Volume + Price Action Momentum Indicator

[Tresor]

Hello Guys,

I came across an indicator that is a combination of volume nad price nad shows momentum on both:

http://www.positiveterritory.com/do/tw/vpmo11.htm

Are you using this or pehaps can you code it in easy language for MultiCharts?

Regards

[thrunner]

http://www.positiveterritory.com/do/tw/vpmo11.htm Definitions, Formulas: As its name states, Volume * Price Momentum Oscillator (V*PMO) is both a price and volume momentum oscillator. To compute it we First, calculate today’s V*PMO input value: VTODAY * (CPTODAY – CPTODAY-1) where VTODAY = today’s volume CPTODAY = today’s closing price CPTODAY-1 = yesterday’s closing price Then smooth the values using a 3-day exponential moving average (EMA): V*PMO = EMA(3)(VTODAY,VTODAY-1,VTODAY-2) Wrong?

TS code:

Input: Price (C); Var: VPMO (0); VPMO = XAverage( V * (Price - Price[1]), 3) ; Plot1( VPMO, "VPMO" ) ; Plot2( 0, "Zero"); Condition1 = Plot1 crosses over Plot2 ; Condition1 = Plot1 crosses under Plot2 ; if Condition1 then Alert( "Positive VPMO" ) ; if Condition2 then Alert( "Negative VPMO" ) ;

This indicator is not very good at representing price and volume, try something like VPCI instead.

[Tresor]

Many thx thrunner