What it does
The DecisionPoint Price Momentum Oscillator (PMO) is a double-smoothed rate-of-change oscillator: the one-bar percentage change of price is run through two successive exponential smoothings (traditionally 35 and 20 periods) and paired with a 10-period EMA signal line. The double smoothing produces a slow, clean momentum curve that oscillates around zero and is well suited to identifying larger swings and long-term divergences.
How to add it
Click Indicators (ƒx) in the header.
Search “Price Momentum Oscillator” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- PMO above zero indicates positive longer-term momentum; below zero, negative momentum.
- Crosses of the PMO above its signal line are buy-side momentum signals, crosses below are sell-side; they carry more weight in the direction of the zero-line position.
- Extreme PMO readings relative to the symbol's own history mark overbought and oversold conditions on a swing timeframe.
- Divergences between PMO peaks and price peaks are among its most reliable messages, warning of trend maturity.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Source | select | close | Close / Open / High / Low / HL2 / HLC3 / OHLC4 |
| Length 1 | number | 35 | 1–200 |
| Length 2 | number | 20 | 1–200 |
| Signal length | number | 10 | 1–100 |
| Timeframe | select | Chart | Chart / 1 minute / 5 minutes / 15 minutes / 30 minutes / 1 hour / 1 day / 1 week / 1 month |
| Wait for timeframe closes | boolean | On | — |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| PMO(35,20) | line | #05B878 |
| Signal(10) | line | #ff6d00 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision (default 2 decimals), price-scale labels and status-line values are configurable at the bottom of the Style tab.
Reference levels
| Level | Value |
|---|---|
| 0 | 0 |
Level values, colors and line styles are editable in settings.
Tips
- Hide the study from the legend eye instead of removing it when you only want it out of the way temporarily.
- Merge multiple oscillators into one pane from the legend ⋯ menu to compare them on a shared axis.
- Double-click the plot to open settings directly, skipping the legend hover.
- A custom timeframe input lets it compute on a higher interval than the chart.
Watch out for
- The heavy double smoothing makes PMO slow, so signals lag noticeably at fast turning points.
- There are no universal overbought/oversold levels; extremes must be judged against each symbol's own PMO history.