Author: Andrey N. Bolkonsky
The Composite High-Low Momentum is described by William Blau in the book "Momentum, Direction, and Divergence: Applying the Latest Momentum Indicators for Technical Analysis".
Composite High-Low Momentum Indicator by William Blau
The Composite High/Low Momentum is calculated as follows:
HLM(q) = HMU(q) - LMD(q)
The smoothed Composite High/Low Momentum is calculated as follows:
HLM(q,r,s,u) = EMA(EMA(EMA( HLM(q) ,r),s),u) = EMA(EMA(EMA( HMU(q)-HMD(q) ,r),s),u)
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/382
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