HPotter

Combo Strategy 123 Reversal & Chande Momentum Oscillator

This is combo strategies for get a cumulative signal.

First strategy
This System was created from the Book "How I Tripled My Money In The
Futures Market" by Ulf Jensen, Page 183. This is reverse type of strategies.
The strategy buys at market, if close price is higher than the previous close
during 2 days and the meaning of 9-days Stochastic Slow Oscillator is lower than 50.
The strategy sells at market, if close price is lower than the previous close price
during 2 days and the meaning of 9-days Stochastic Fast Oscillator is higher than 50.

Second strategy
This indicator plots Chande Momentum Oscillator . This indicator was
developed by Tushar Chande. A scientist, an inventor, and a respected
trading system developer, Mr. Chande developed the CMO to capture what
he calls "pure momentum". For more definitive information on the CMO and
other indicators we recommend the book The New Technical Trader by Tushar
Chande and Stanley Kroll.
The CMO is closely related to, yet unique from, other momentum oriented
indicators such as Relative Strength Index , Stochastic , Rate-of-Change,
etc. It is most closely related to Welles Wilder`s RSI , yet it differs
in several ways:
- It uses data for both up days and down days in the numerator, thereby
directly measuring momentum;
- The calculations are applied on unsmoothed data. Therefore, short-term
extreme movements in price are not hidden. Once calculated, smoothing
can be applied to the CMO, if desired;
- The scale is bounded between +100 and -100, thereby allowing you to
clearly see changes in net momentum using the 0 level. The bounded scale
also allows you to conveniently compare values across different securities.

WARNING:
- For purpose educate only
- This script to change bars colors.
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May I know why you are using 'study' instead of 'strategy' in the code?
Resposta
@ltiftv, This is "indicator" version of the script. Then I made strategy. Many users and me can use indicator version for make analysis of the market.
Resposta
ltiftv HPotter
@HPotter, Thank you!
Resposta
@ltiftv, You are welcome.
Resposta
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