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BODY Momentum by Perry Kaufman
I was reading in Perry Kaufman's latest book and he described a littleoscillator he
called "Body Momentum". This simply calculates the momentumof the closes above the opens versus the closes below the opens.

The theoryis that as prices move up, closing prices will be higher than opening pricesand vice-versa for down. If this oscillator is above 70 then the whites (Candle-sticks) dominate and below 30 the blacks are dominant.

I also added a 3 day moving average to the calculation (for smoothing).

Here is the code:

BODY Momentum

Lb:=Input("Look-Back Period?",3,60,14);
B:=CLOSE - OPEN;
Bup:= Sum(B > 0, Lb);
Bdn:= Sum(B < 0, Lb);
BM:=(Bup/(Bup+Bdn))*100;
Mov(Bm,3,S)

 

e-w-BODY_Momentum.gif
from Adam Hefner
Source / From: TOP
http://www.guppytraders.com

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