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Price momentum oscillator - indicator for MetaTrader 5

Mladen Rakic
Views:
18191
Rating:
(33)
Published:
2020.08.09 17:40
Download as ZIP, How to download code from MetaEditor
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Description :

In his article in August 2020 issue of TASC , “The Compare Price Momentum Oscillator (CPMO),” author Vitali Apirine reintroduces us to the DecisionPoint PMO originally developed by Carl Swenlin and presents a new way to use it to compare the relative momentum of two different securities.

This is the PMO indicator

Recommendations:

  • Trading signals can be derived in a number of ways including momentum, signal line, and zero-line crossovers. 




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I want to share with you this story. When I started trading, I learnt the scalping strategy in a volatile market. I really loved scalping especially when I see the price is moving fast. However, scalping for a long period of time is exhausting to me especially in a volatile market; volatile market requires fast analysis, actions and reactions; that is why I always reach a point that I loss concentration, focus and I start making those really stupid mistakes. That is why I created this EA, that is based on the indicator Identify potential entries, that helped me to automatically identify these potential entries (based on the formation of candlesticks) instead of doing all the work myself and it will trade these potential entries for me. I know there are plenty of Metatraders who also suffer from this and that is why I would like to share this EA with you, hopefully it will be beneficial. Do not forget to send you comments as well as rate these scripts. Happy trading!

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