Indicators: Candlestick Momentum Index Blau_CMI
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Candlestick Momentum Index Blau_CMI:
Candlestick Momentum Index (CMI, based on Candlestick Momentum Indicator) is described by William Blau in the book "Momentum, Direction, and Divergence: Applying the Latest Momentum Indicators for Technical Analysis".
The values of Candlestick Momentum Indicator are normalized (by absolute values) and mapped into the [-100,+100] interval. Due to normalization, the positive values of CMI correspond the overbought states of the market, the negative values correspond to the oversold states of the market.
Author: Andrey N. Bolkonsky