動能擺蕩指標(TMO)

動能擺動指標是Colin Twiggs對變化率指標進一步平滑的基礎上得出的。TMO的最初目的是利用股票篩選器來尋找出處於單邊趨勢的股票。然而，類似於別的動能指標，它也可以被成功的用於產生買賣信號。

TMO的交易信號
識別快速運行的單邊趨勢
當21日TMO有如下表現時，可以說明趨勢快速運行：• 上升到20%之上，表明趨勢上升。或者
• 下降到-20%之下，說明趨勢下降。
指標週期最低可以是5日，用於識別短期趨勢；最長可以是12個月，來識別極端的長期趨勢。TMO波動的損益百分比可以根據交易的週期相應的設置。下面是用 TMO來粗略判斷市場單邊快速運行的方法:
• TMO 週期低於10日: 使用 10%
• 10 ~ 19 日: 使用15%
• 20 ~ 24 日: 20%
• 25 ~ 30日: 25%
• 30 ~ 34日: 30%
• 35 ~ 39日: 35%
• 40 ~ 44日: 40%
• ..............
• 大於等於100 日: 100%

示例1
蘋果公司股票走勢圖以及TMO（21日）、63日EMA作為趨勢過濾器。

 
1. 當21日TMO上升到20%，並且價格位於63日EMA上方時，做多。
2. 當21日TMO下降到10%並回調之後，且價格位於63日EMA上方時，增加多單倉位。如果TMO下降到5%之後回調，雖然此時價格接近63日EMA，但也是增加持倉信號。

示例 2
蘋果公司股票走勢接下來用TMO（12月）來識別長期走勢。

 
1. 2004年9月，12月TMO上升到100%表明一個強勁的上升趨勢。
買/賣信號
短期的TMO指標類似於其他的動能指標，也可以用來產生買和賣的交易信號。首先，利用趨勢指標來識別趨勢方向。上升趨勢中，TMO傾向於位於0軸上方，下降趨勢則相反。跟隨趨勢方向交易。
• 在上升趨勢中，如果TMO指標位於0軸下方且呈上升趨勢時做多。
• 下降趨勢中，TMO指標從0軸上方向下運動時做空。
利用追蹤止損買入/賣出來確認進出場時機。TMO出現背離或價格趨勢變化時平倉獲利。利用趨勢指標確認平倉位置。也可以在TMO指標線上畫出類似於價格窗口的趨勢線。TMO指標的趨勢線突破會先於價格窗口的趨勢突破。

示例 3
RSG股價走勢圖，以及 5日TMO、63日EMA作為趨勢過濾器。

 
1. 5日TMO上升到10%上方說明股價處於快速上漲時期。
2. 當TMO從零軸下方上升到5%且價格位於63日EMA上方時做多。
TMO指標設置
TMO指標的默認週期是21日。
TMO指標計算公式
TMO指標是基於價格變化率指標。計算方法屬於個人所有，目前還沒有披露。

Twiggs Momentum Oscillator
Twiggs Momentum Oscillator is a new momentum oscillator developed by Colin Twiggs for Incredible Charts. A smoothed version of the Rate Of Change oscillator, its primary purpose is to identify fast trending stocks using the stock screener. It can, however, be successfully used to generate buy and sell signals in a similar fashion to other momentum oscillators.
Twiggs Momentum Oscillator Signals
Identifying Fast Trends
Fast-trends are indicated when Twiggs Momentum Oscillator (21-day):
• Rises above 20%, indicating an up-trend; or
• Falls below -20%, indicating a down-trend.
The indicator period can be adjusted to as low as 5 days, to identify short-term trends, or as high as 12 months, to identify extremely long-term trends (the super-cycle). The percentage gain or loss would have to be adjusted accordingly: to 10% or 100% respectively.
Here is a rough guide to identifying fast-trending stocks with TMO:
• TMO time period below 10 days: use 10%
• 10 to 19 days: use 15%
• 20 to 24 days: 20%
• 25 to 30 days: 25%
• 30 to 34 days: 30%
• 35 to 39 days: 35%
• 40 to 44 days: 40%
• ..............
• 100 days and over: 100%
EXAMPLE
Apple Inc. [AAPL] is displayed with Twiggs Momentum Oscillator (21 days) and 63-day exponential moving average used as a trend filter.
1. Go long when Twiggs Momentum Oscillator (21 days) rises above 20%, while price is above the 63-day exponential moving average
2. Increase long position when Twiggs Momentum Oscillator (21 days) reverses above 10% while price is above the 63-day exponential moving average. Signals can also be taken when Twiggs Momentum Oscillator reverses up by 5% when close to the moving average.
 
EXAMPLE 2
Apple Inc. [AAPL] is this time displayed with Twiggs Momentum Oscillator (12-months) to identify long-term trends.
1. Twiggs Momentum Oscillator (12-months) rising above 100% indicates a strong up-trend in September 2004.
Buy and Sell Signals
The shorter-term oscillator can also be used to generate buy and sell signals in a similar fashion to other momentum oscillators.
First, identify the trend direction using a trend indicator. Twiggs Momentum Oscillator tends to stay above zero during an up-trend and below zero during a down-trend. Only take signals in the direction of the trend.
• In an up-trend, go long if Twiggs Momentum Oscillator turns upwards when below zero.
• In a down-trend, go short if Twiggs Momentum Oscillator turns downward when above zero.
Use trailing buy and sell stops to time your entry and exit. Take profits on divergences and trend line breaks. Exit using a trend indicator.
Trend lines can also be drawn on Twiggs Momentum Oscillator. A break in the trend line often occurs in advance of a similar break on the price chart.
EXAMPLE 3
Gold miner Resolute Mining Ltd [RSG] is displayed with Twiggs Momentum Oscillator (5-day) and 63-day exponential moving average as a trend filter.
1. Twiggs Momentum Oscillator (5-day) rising above 10% helps to identify a fast-trending stock.
2. Go long when Twiggs Momentum Oscillator (5-day) turns up by 5% while below zero and price respects the 63-day moving average.
Twiggs Momentum Oscillator Setup
The default period is set at 21 days ATR.
See Indicator Panel for directions on how to set up an indicator — and Edit Indicator Settings to change the settings.
Twiggs Momentum Oscillator Formula
Twiggs Momentum Oscillator is based on the Rate Of Change oscillator. The formula is proprietary and is not disclosed.

文章翻譯由兄弟財經提供

本文來源：http://www.incrediblecharts.com/indicators/twiggs_momentum_oscillator.php