This indicator is a gauge to market direction. It is displayed as a histogram. As a bullish “buy” sign, we will look for the point at which the histogram shows movement crossing the oscillator’s zero line going upwards. If it should go down and cross the line going down, that would be our “sell” sign, or a “short-sell” sign.
I personally use this only for confirmation.
Comentários
concept17
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How can I use a graph like that on real time? Could you please tell me wich software could make use of your formula? Is it metastock?
concept17
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How can I use a graph like that on real time? Could you please tell me wich software could make use of your formula? Is it metastock?
In Trading View: look for " Indicator RMO - Lazy Bear" Just osom!
CJMann
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The blue color never shows up. Is there a bug? What is the blue suppose to signal?
anthonyaj
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Hello, I have used RMO in Metastock for many years at find it extremely helpful. As such yours is great on TradingView. Is it possible to place in the option of two extra horizontal lines additional to the zero so that an oversold or overbought condition can be a visual alert. I use -10 and +10 and find them quite effective. Regards, Anthony
micquan
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The rmo full strategy is only available via Metastock.
Al-M
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@micquan, how is Metastock's RMO different from this one? Is the histogram that it shows different from the one produced by this script?