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Indicators

OC Momentum - indicator for MetaTrader 4

JAN OPOCENSKY
Views:
19281
Rating:
(18)
Published:
2020.04.12 13:45
Updated:
2020.05.06 08:41
OC Momentum.mq4 (10.82 KB) view
Download as ZIP, How to download code from MetaEditor
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5.5.2020 new version uploaded.


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Descritpion:

OC Momentum oscillator uses Open and Close price to calculate its value.

The only variable n default value is 3. It can be modified obviously.

The histogram simplifies identification of trade entry.


Usage in trending markets:

Points 1 and 2 form a trendline.

Entry signal is when the indicator curve crosses the zero line and the first histogram bar of propper color is formed.

Points 3,4 and 5 present possible entry points.

Take into account that no trend is endless.  


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