Variation of the RMO oscillator developed by Rahul Mohindar. The indicator is implemented in the form of a color histogram with signal pointers.
It has four inputs:
- First EMA period - calculation period of the first ЕМА
- Second EMA period - calculation period of the second ЕМА
- Third EMA period - calculation period of the third ЕМА
- Applied price
Calculation:
RMO = EMA(SwingTrd, Third EMA period)
where:
SwingTrd = 100.0 * (Price-MA_Avg) / (Max-Min) MA_Avg = (MA1+MA2+MA3+MA4+MA5+MA6+MA7+MA8+MA9+MA10)/10 MA10= (MA9+PrevMA9)/2 MA9 = (MA8+PrevMA8)/2 MA8 = (MA7+PrevMA7)/2 MA7 = (MA6+PrevMA6)/2 MA6 = (MA5+PrevMA5)/2 MA5 = (MA4+PrevMA4)/2 MA4 = (MA3+PrevMA3)/2 MA3 = (MA2+PrevMA2)/2 MA2 = (MA1+PrevMA1)/2 MA1 = (Applied price+PrevApplied price)/2 Max, Min are the highest and the lowest price within the range from (the current bar+10) to the current bar
Fig. 1. Rahul Mohindar oscillator
Fig. 2. Rahul Mohindar oscillator + RMO
