I_MRO: Inuvest Momentum Ratio Oscillator
I_MRO might have similar name with I_MOS, but the computation and intution behind both the indicators are far from similar.
I_MRO is a momentum indicator which enables detection in quantum of momentum in each direction.
I_MRO is computed with 2 different period inputs (264 and 770 candles for example). Momentum ratio oscillator is a directional intuition-based indicator which measures average of 2 different period momentum ratios which is the momentum of price movement for the said historical period.
SIGNAL Generation
BUY signal is generated when the indicator turns positive and a SELL signal is generated when it becomes negative. This can further be used for different periods computations.
Where to use this indicator?
This indicator can be used for Option buying strategies over a 15 minute candle.