This is a 1 bar momentum using a regularized ema (Chris Satchwell, Pattern Recognition And Trading Decisions pag.192) with a limit lambda (John F. Ehlers Cybernetic Analysis for Stocks and Futures pag.188), some say that is better than macd.
It's looking good. Is it only for stocks or does it perform on currencies too? Do you use any particular strategy with it?
EkaSanatani
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Good day. I'm using this indicator to detect divergence with price movement. I'm also using similar indicator in MT4 which has integrated ZigZag line into it. The ZigZag line makes it even easier to detect the divergence. Is it possible to add ZigZag into this indicator. Sorry to trouble Sir.
sal157011
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@EkaSanatani, Yes, you can add a "Divergence indicator" to the regularized momentum and there is at least one that can be added to (any oscillator) and that was mentioned in EP Editor Picks in 2020 so it is really very good , I use it a lot.
EkaSanatani
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@sal157011, Thanks. This is what I was looking for. Thanks for creating REMO indicator.