Also, since some of the explanations have been lost in numerous "migrations" (of forex-TSD for one), I would like to repeat some stuff regarding polychromatic momentum
According to Dennis Meyers (that first described it) it is :
Dennis Meyers wrote:Momentum is defined as the difference, or percent change, between the current bar and a bar some lookback period in the past.. The major problem with using momentum based indicators is that the optimum lookback period seems to change over time creating losses with the current chosen lookback period. To avoid the errors due to a single lookback period we create an indicator that takes an weighted average of all significant lookback periods for the tradable. We named this indicator polychromatic because poly means many and chromatic means colors. Thus, polychromatic momentum for this indicator translates into the sum of many momentums.
The momentum magnitudes from different lookback periods are not equalized. That is, the momentum from 17 bars ago will have a range of magnitudes that are much greater than the range of momentum magnitudes of the one bar momentum. For Brownian motion random processes the expected distance a particle can move is proportional to the square root of time. Thus to equalize the effect of differences in magnitude so that the longer bar momentum magnitudes don't swamp the magnitudes of the shorter bar momentums in an average , we will weight the momentum values. The weighting function that we chose here is n α , where α is a system input variable. This weighting will equalize the various momentum magnitudes
So, even though some might have thought that "polychromatic" come from a nicely colored values and bars, it is not so. But I liked the description and that is why it was made the way it is. Dynamic zones served as a natural normalization method that is necessary for any gradient coloring - without it it would hardly be possible to do that, but still the "polychromatic" does not apply to that, but to the very core of the way how the indicator is calculated