Anchored Momentum (AMOM), by Rudy Stefenel, is a modified momentum indicator to capture the relative momentum. AMOM uses SMA as the reference for deriving momentum, thereby anchoring it to that MA rather than "value of close n bars back".
Mr.Stefenel suggests using this like other oscillators -- crossing signal line, crossing zero, divergences.
For alerts, use "Momentum", "Signal" and "ZeroLine" plots.
Configurable options: - Momentum Period: Default is 10. - Signal Period: Default is 8. - Smooth Momentum: Default is FALSE. If TRUE, enables EMA(close) to be used rather than "close". - Smoothing Period: Default is 7. If momentum smoothing is enabled, this period is used. - Show Histogram: Default is FALSE. This is not histogram per se (indicator - signal), but is used for highlighting the crosses. Check out the histogram pane below to see an example. - Enable Barcolors: Default is FALSE. If enabled, colors the price data (bars/candles) using histogram color.
More info: Anchored Momentum, Stocks & Commodities V16:2 (89-98)
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. Você pode favoritá-lo para usá-lo em um gráfico.
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