Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

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

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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 Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)

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