Archived: TMO True Momentum Oscillator

[markos]

Thanks @markos for the scan. Is it possible to run the scan when it is turning from red to green in the last two candles? I really appreciate it.

@lowtrade it changes color when the Delta of Price changes polarity.
Save a scan to a dynamic watchlist and when it repopulates every 3 minutes or so, it will show you candidates to then click on to see the chart.
Suggest you stick with a smaller list of liquid products. Look into adding Supertrend to it, possibly.
Further, look below for similar threads or use the search bar to query the website. Sorry I can't help further.
If you are scalping or daytrading, someone else would need to chime in or post this in the Questions thread.

 

[stockfella]

Curious if any one knows if there is a script to add to the True Momentum Osc that picks up on divergence between price and the TMO lines?

 

[technicallydreaming]

Is it recommend to change the settings on this indicator for the one minute chart?

 

[henry1224]

Is it recommend to change the settings on this indicator for the one minute chart?

you do not need to change the code,
you can adjust the inputs once it is charted thru Beaker then Gear COG

 

[ZION]

@markos how do you flip the volume bar color as the same as the chart Bar color can't find it on the link

 

[BenTen]

@ZION Via your chart's settings, under Appearance.

 

[technicallydreaming]

Does anyone know if this can be ported to NinjaTrader?

 

[markos]

Does anyone know if this can be ported to NinjaTrader?

I don't know of anyone that has done it but that doesn't mean that you can't give it a try.

 

[markos]

@markos how do you flip the volume bar color as the same as the chart Bar color can't find it on the link

Did you get it working? If not, please post a picture using imgur.com. Thanks

 

[SugarTrader]

Hello,
Playing with TMO. Anyone use it to detect divergence in combination with price action? i.e. similar to Stochatic/MACD to detect price movement divergence. Thanks

 

[tenacity11]

Hello,
Playing with TMO. Anyone use it to detect divergence in combination with price action? i.e. similar to Stochatic/MACD to detect price movement divergence. Thanks

TMO is the only one I use and yes I do watch for divergence

 

[dmillz]

I found that using this with trend reversal indicator works really well. Wondering if anyone implemented the two together for a scan?

 

[tenacity11]

An example of TMO divergence with Trend Reversal

 

[vikram]

Anyone know scan code for TMO color changing from red to green and crossing 20% ?

 

[BenTen]

@vikram Main crosses above Signal and Main crosses above 20. Most likely both scenario won't happen within the same candle though, so keep that in mind.

 

[axlerod]

So super interesting Analysis I Wanna share.... thoughts be helpful. This is ACOR on a 30min time frame.

This indicator seems to be super similar to The Lazy Bear script... https://usethinkscript.com/threads/lazybears-intraday-momentum-index-for-thinkorswim.999/

Having a hard time debating which is more accurate....
Take a look let me know your thoughts....

 

[dmillz]

Anyone know scan code for TMO color changing from red to green and crossing 20% ?

how did u get multiple colors on the Overbought and over sold top and bottom lines?

 

[horserider]

@dmillz

plot Band = Pick a #;
plot Band2 = Pick a #;
Band.SetDefaultColor(CreateColor(0, 224, 0));
Band2.SetDefaultColor(CreateColor(0, 224, 0));

AddCloud(Band, Band2, Color.Choose a color);

 

[dmillz]

@dmillz

plot Band = Pick a #;
plot Band2 = Pick a #;
Band.SetDefaultColor(CreateColor(0, 224, 0));
Band2.SetDefaultColor(CreateColor(0, 224, 0));

AddCloud(Band, Band2, Color.Choose a color);

yeah the cloud takes up the whole graph "add Cloud..."

 

[vikram]

how did u get multiple colors on the Overbought and over sold top and bottom lines?

I have both TMO daily and TMO with aggregation in the same study that's why you see multiple colors.