Looks like the 12,26,9 PMO could be a secondary confirmation
indicator around those whipsaws. But one would have to
optimize the signal line to find the best PMO calcuations.
PMO is best in uptrending markets, If you have a solid candle
here maybe you could use that and have stop at low. However where
that indicator fails is downtrend markets. I'd stick to standard
candle charts honestly at this time
Looks like the 12,26,9 PMO
BPSPX Renko observation
Posted by dsomes on 24th of Mar 2020 at 10:16 am
Looks like the 12,26,9 PMO could be a secondary confirmation indicator around those whipsaws. But one would have to optimize the signal line to find the best PMO calcuations.
PMO is best in uptrending
Posted by matt on 24th of Mar 2020 at 10:18 am
PMO is best in uptrending markets, If you have a solid candle here maybe you could use that and have stop at low. However where that indicator fails is downtrend markets. I'd stick to standard candle charts honestly at this time
can you post a link
Posted by arun on 24th of Mar 2020 at 10:42 am
can you post a link to the PMO chart...i m not sure which one you are referring to