Description
The Compare Price Momentum Oscillator (CPMO) is a technical indicator developed by Vitali Apirine. It allows comparison of the relative strength of two stocks or indexes based on Carl Swenlin's Price Momentum Oscillator. For both of the specified symbols (stocks or indexes), the study plots a PMO line and a signal line. The four lines can then be analyzed in relation to each other and the zero level. To make sure the comparison is possible, the same input parameters are used when calculating PMO lines and signal lines for both symbols.
While the plain PMO indicator suggests looking for crossovers of the main PMO line with the signal line, the CPMO study makes it easier to look for crossovers of the main PMO lines of the primary and secondary stock or index. Such crossovers may help understand which stock or index is outperforming the other.
Input Parameters
| Parameter | Description |
|---|---|
length1
|
The length of the first exponential moving average to smooth the rate of change with, applied to both the primary and secondary symbol. |
length2
|
The length of the second exponential moving average to smooth the rate of change with, applied to both the primary and secondary symbol. |
signal length
|
The length of the exponential moving average to be used as the signal line, applied to both the primary and secondary symbol. |
secondary symbol
|
The secondary symbol against which the relative strength of the primary symbol is to be compared. |
Plots
| Plot | Description |
|---|---|
PrimaryPMO
|
The main PMO plot calculated for the primary symbol. |
SecondaryPMO
|
The main PMO plot calculated for the secondary symbol. |
PrimarySignalLine
|
The signal plot calculated for the primary symbol. |
SecondarySignalLine
|
The signal plot calculated for the secondary symbol. |
ZeroLine
|
The zero level. |
Further Reading
1. "The Compare Price Momentum Oscillator (CPMO)" by Vitali Apirine. Technical Analysis of Stocks & Commodities, August 2020.
Past performance is no guarantee of future performance.