OPEN-SOURCE SCRIPT
Actualizado True Momentum Oscillator - Universal Edition
"TMO calculates momentum using the delta of price. Giving a much better picture of trend, trend reversals and divergence than momentum oscillators using price".
This is an implementation of the popular ToS indicator TMO . It incorporates a few improvements on the original code, which have also been proposed upstream. Please read the opening comment in the code.
How to use this indicator?
You can think of this indicator as a mix of RSI and MACD .
Similarly to RSI , it has overbought and oversold levels.
Similarly to MACD it has a TMO line and a signal line. The histogram shows the difference between those lines and easily lets you spot crossovers.
What does this indicator do?
In its default configuration, it looks at the last 14 candles and determines a score based on whether the current price is higher or lower than those candles. This reacts to breakouts very quickly, especially after a consolidation period.
This is an implementation of the popular ToS indicator TMO . It incorporates a few improvements on the original code, which have also been proposed upstream. Please read the opening comment in the code.
How to use this indicator?
You can think of this indicator as a mix of RSI and MACD .
Similarly to RSI , it has overbought and oversold levels.
Similarly to MACD it has a TMO line and a signal line. The histogram shows the difference between those lines and easily lets you spot crossovers.
What does this indicator do?
In its default configuration, it looks at the last 14 candles and determines a score based on whether the current price is higher or lower than those candles. This reacts to breakouts very quickly, especially after a consolidation period.
Notas de prensa
Removed unnecessary parentheses. Notas de prensa
Added multi-timeframe support and replaced parameters that are going to be deprecated. Freshened up some default colors.Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no pretenden ser, ni constituyen, asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no pretenden ser, ni constituyen, asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.