The indicator Dynamic Momentum Oscillator is the family of momentum. It has been developed by Marshall E. Wall. It indicates as the RSI overbought and oversold area. In the words of Marshall E. Wall, it is possible to use several indicators as a basis for calcul. In our case we have integrated the formula for RSI.

This indicator is also known as the DMO or Dynamo oscillator.

// parameters
// RSIp = 14
// DynP = 21

myRSI = RSI[RSIp](close)

DynamoRSI = 50 - (average[DynP](myRSI)-myRSI)

RETURN DynamoRSI as "Dynamic Momentum RSI", 50 as "mid level", 30 as "low level", 70 as "high level"

Download

Filename: RSI-Dynamo.itf

Downloads: 182

Nicolas Master

I created ProRealCode because I believe in the power of shared knowledge. I spend my time coding new tools and helping members solve complex problems. If you are stuck on a code or need a fresh perspective on a strategy, I am always willing to help. Welcome to the community!

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