DecisionPoint Price Momentum Oscillator [LazyBear]

The DecisionPoint Price Momentum Oscillator ( PMO ) is an oscillator based on a Rate of Change calculation that is smoothed twice with custom exponential moving averages. Because the PMO is normalized, it can also be used as a relative strength tool.

PMO can be used in many ways:
- PMO can be used to determine the OB/OS state. While the +2.5 to -2.5 is the usual range for broad stock market indexes, each price index will have its own “signature” range. You may have to tune this for your instrument.
- PMO triggers buy/sell on signal crossovers and ZERO crossovers.
- Common patterns like BullKiss, BearKiss are useful to track. See the link below for more info.
- Divergences.
- Histo-only mode that can be used similar to MACD-Histo.

I have exposed all params as configurable. Have fun tuning :) Don't forget to share what you found for your instrument.

More Info:

List of my public indicators:
List of my app-store indicators:

Some Sample Charts:




הסר מסקריפטים מועדפים הוסף לסקריפטים מועדפים
// @author LazyBear 
// List of my public indicators: 
// List of my app-store indicators: 
study(title="DecisionPoint Price Momentum Oscillator [LazyBear]", shorttitle="DPMO_LB")
src=input(close, title="Source")
length1=input(35, title="First Smoothing")
length2=input(20, title="Second Smoothing")
siglength=input(10, title="Signal Smoothing")
fr=input(true, title="Fill Region")
ehc=input(false, title="Enable Histo Color")
ebc=input(false, title="Enable Bar Colors")
soh=input(false, title="Show Only Histo")
slvl=input(false, title="Show OB/OS Levels")
oblvl=input(2.5, title="OB Level"), oslvl=input(-2.5, title="OS Level")
calc_csf(src, length) => 
	sm = 2.0/length
	csf=(src - nz(csf[1])) * sm + nz(csf[1])
i=(src/nz(src[1], src))*100
pmol2=calc_csf(i-100, length1)
pmol=calc_csf( 10 * pmol2, length2)
pmols=ema(pmol, siglength)
duml=plot(not soh and fr?(d>0?pmol:pmols):na, style=circles, color=gray, linewidth=0, title="DummyL")
plot(0, title="MidLine")
plot(d, style=columns, color=ehc?hc:gray, transp=80, title="Histo")
sigl=plot(soh?na:pmols, title="PMO Signal", color=gray, linewidth=2, title="Signal")
mdl=plot(soh?na:pmol, title="PMO", color=black, linewidth=2, title="PMO")
fill(duml, sigl, green, transp=70, title="PosFill")
fill(duml, mdl, red, transp=70, title="NegFill")
plot(not soh and slvl?oblvl:na, title="OB Level", color=gray, linewidth=2)
plot(not soh and slvl?oslvl:na, title="OS Level", color=gray, linewidth=2)
Regarding alerts: for whatever reason, the PMO x PMO signal doesn't work. Is that the case with anyone else? Can anyone suggest anyone of them that work?

This is one of the best indicators to be used in conjunction with your setups and having an alert for this one would be lucrative.

Any input would be appreciate! Thanks, all! Thanks, LazyBear. Yet again, you have seriously outdone yourself. Thank you for all of your hardwork, time and effort. I should be cutting you percentage cheques from my earnings. Help me get the alerts working and I will lol
@xSHADx, oh no, i was mistaken! it works! one of the best, if not, the best indicator on here. thanks again, LazyBear.
Hey Lazy Bear,

I liked you script sounds, amazing. But,
How to use your script and check for stocks.I want to use your script for some of my stocks,but i dont know as i am new to trading.
hey lazy bear really like your indicators.
i have saw a RAVI indicator scripted by you on
can u do some modification in RAVI for me. it is a request
can u make it in histogram mode similar to DecisionPoint Price Momentum Oscillator by you (4 color) and option to change the type of moving average ex:- EMA, WMA, 2EMA AND 3EMA
pls reply can u do this for me.
Nice job thanks!
great works,thanks, I'm trying to code PMO in mt4 following your codes
Hi, What is the indicator that draws the Red and Green horizontal support and resistance lines?
+1 השב
It is RSI S/R Levels. More info:
+1 השב
yah yah yah... but wheres my damn Shadow Channels?
LazyBear Futuraman
You mean this one?

ping me, we can work out a deal to make this "your" shadow channels. :P
+1 השב
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