Description
A momentum indicator that measures the strength of a trend by comparing close and open prices.
Implementation Logic
Implement a 4-bar Finite Impulse Response (FIR) filter using weights of 1-2-2-1 for both the numerator (Close−Open) and the denominator (High−Low). Pass the resulting smoothed values into two parallel SMA structures, and then yield the division of the two SMAs.
Suggested Package
momentum
Labels
Description
A momentum indicator that measures the strength of a trend by comparing close and open prices.
Implementation Logic
Implement a 4-bar Finite Impulse Response (FIR) filter using weights of 1-2-2-1 for both the numerator (Close−Open) and the denominator (High−Low). Pass the resulting smoothed values into two parallel SMA structures, and then yield the division of the two SMAs.
Suggested Package
momentumLabels