Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Modified Stochastic Momentum Oscillator – Amibroker AFL Code

32 sec read

Here is a simple and modified version of Stochastic Momentum oscillator in color coded histogram format. If you understand Stochastic Momentum Oscillator values ranges between +100 to -100. And Generally takes median of High and Low as input. Whereas in the modified version we changed the inputs to median of High, Low and Close. And also the modified version of Stochastic Momentum oscillator has two lookback periods instead of two.

Stochastic Momentum Oscillator

Stochastic Momentum Oscillator is plotted in histogram format and color coded as follows

Green – Increasing Positive Momentum
Blue – Decreasing Positive Momentum (could lead to either potential reversal or sideways action if the trend is really strong)
Red – Increasing Negative Momentum
Yellow– Decreasing Negative Momentum (could lead to either potential reversal or sideways action if the trend is really strong)

Modified Stochastic Momentum Oscillator – Amibroker AFL Code

https://gist.github.com/3f5316300498f68e1d58

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Algomojo Index Straddle/Strangle Execution Module with Intraday Stoploss

This tutorial focus on how to automate your index straddle/strangle strategy with intraday stop-loss levels with time-based entry and exits using Algomojo Platform and...
Rajandran R
7 min read

Learn How to Login into Algomojo Account using Amibroker

In the last tutorial, we learn how to automate the algomojo login process and in this video tutorial, we are going to learn with...
Rajandran R
1 min read

Amibroker Execution Module – Hedged Index Futures for Directional…

In the last tutorial, we learn the importance of Hedging Futures Position with OTM Options for Reduced Margin. This tutorial focus on how to...
Rajandran R
14 min read

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More