Blast Off Momentum [DW]

DonovanWall Wizard Updated   
This study is an alternative experimental interpretation of the Blast Off Indicator by Larry Williams.
This formula takes positive and negative magnitudes rather than the absolute value. The result is then smoothed with an EMA, and twice smoothed to provide a signal line.
Release Notes:

Simple housekeeping. Cleaned up the code a bit.

Aesthetic Updates:
-> Changed BOM's plot to columns
-> Added bar colorization

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Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


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