Cmo & Wma

[eSignal]

File Name: CMO_WMA.efs

Description:
CMO & WMA

Formula Parameters:
LenCMO : 9
LenAvg : 9


Notes:
This indicator plots Chandre Momentum Oscillator and its WMA on the
same chart. This indicator plots the absolute value of CMO. CMO was
developed by Tushar Chande. A scientist, an inventor, and a respected
trading system developer, Mr. Chande developed the CMO to capture what
he calls ?pure momentum". For more definitive information on the CMO and
other indicators we recommend the book The New Technical Trader by Tushar
Chande and Stanley Kroll.
The CMO is closely related to, yet unique from, other momentum oriented
indicators such as Relative Strength Index, Stochastic, Rate-of-Change,
etc. It is most closely related to Welles Wilder?s RSI, yet it differs
in several ways:
- It uses data for both up days and down days in the numerator, thereby
directly measuring momentum;
- The calculations are applied on unsmoothed data. Therefore, short-term
extreme movements in price are not hidden. Once calculated, smoothing
can be applied to the CMO, if desired;
- The scale is bounded between +100 and -100, thereby allowing you to clearly
see changes in net momentum using the 0 level. The bounded scale also allows
you to conveniently compare values across different securities.



Download File:
CMO_WMA.efs



EFS Code:

/*********************************
Provided By:  
    eSignal (Copyright c eSignal), a division of Interactive Data 
    Corporation. 2009. All rights reserved. This sample eSignal 
    Formula Script (EFS) is for educational purposes only and may be 
    modified and saved under a new file name.  eSignal is not responsible
    for the functionality once modified.  eSignal reserves the right 
    to modify and overwrite this EFS file with each new release.

Description:        
    CMO & WMA

Version:            1.0  03/27/2009

Formula Parameters:                     Default:
    LenCMO                              9
    LenAvg                              9

Notes:
    This indicator plots Chandre Momentum Oscillator and its WMA on the 
    same chart. This indicator plots the absolute value of CMO. CMO was 
    developed by Tushar Chande. A scientist, an inventor, and a respected 
    trading system developer, Mr. Chande developed the CMO to capture what 
    he calls ?pure momentum". For more definitive information on the CMO and 
    other indicators we recommend the book The New Technical Trader by Tushar 
    Chande and Stanley Kroll.
    The CMO is closely related to, yet unique from, other momentum oriented 
    indicators such as Relative Strength Index, Stochastic, Rate-of-Change, 
    etc. It is most closely related to Welles Wilder?s RSI, yet it differs 
    in several ways:
    - It uses data for both up days and down days in the numerator, thereby 
        directly measuring momentum;
    - The calculations are applied on unsmoothed data. Therefore, short-term 
        extreme movements in price are not hidden. Once calculated, smoothing 
        can be applied to the CMO, if desired;
    - The scale is bounded between +100 and -100, thereby allowing you to clearly 
        see changes in net momentum using the 0 level. The bounded scale also allows 
        you to conveniently compare values across different securities.
**********************************/

var fpArray = new Array();
var bInit = false;

function preMain() {
    setPriceStudy(false);
    setStudyTitle("CMO & WMA");
    setCursorLabelName("CMO", 0);
    setCursorLabelName("WAvg", 1);
    setDefaultBarFgColor(Color.blue, 0);
    setDefaultBarFgColor(Color.red, 1);
    addBand(0, PS_SOLID, 1, Color.brown);    
    setStudyMax(101);
    setStudyMin(-101);
    var x=0;
    fpArray[x] = new FunctionParameter("LenCMO", FunctionParameter.NUMBER);
    with(fpArray[x++]){
        setLowerLimit(1);        
        setDefault(9);
    }
    fpArray[x] = new FunctionParameter("LenAvg", FunctionParameter.NUMBER);
    with(fpArray[x++]){
        setLowerLimit(1);        
        setDefault(9);
    }   
}

var xCMO = null
var xCMO_WMA = null;

function main(LenCMO, LenAvg) {
var nBarState = getBarState();
var nCMO = 0;
var nCMOavg = 0;

    if (nBarState == BARSTATE_ALLBARS) {
        if (LenCMO == null) LenCMO = 9;
        if (LenAvg == null) LenAvg = 9;
    }    
   
    if (bInit == false) {
        xCMO = efsInternal("Calc_CMO", LenCMO);
        xCMO_WMA = wma(LenAvg, xCMO);
        bInit = true;
    }

    nCMO = xCMO.getValue(0);
    nCMOavg = xCMO_WMA.getValue(0);
    if (nCMOavg == null) return;
    return new Array(nCMO, nCMOavg);
}

var xSecondInit = false;
var xSMA = null;
var xMOM = null;

function Calc_CMO(LenCMO) {
var nRes = 0;
    if(xSecondInit == false){
        xSMA = sma(LenCMO, efsInternal("Calc_Price"));
        xMOM = mom(LenCMO);
        xSecondInit = true
    }
    var nSMA = xSMA.getValue(0);
    if (nSMA == null) return;
    nRes =  100 * (xMOM.getValue(0) / (nSMA * LenCMO));
    return nRes;    
}

var yMOM = null;

function Calc_Price(){
    if(yMOM==null) yMOM = mom(1);
    return Math.abs(yMOM.getValue(0));
}