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colormomentum_ama.mq5 (7.68 KB) view

momentum_ama.mq5 (6.87 KB) view

\MQL5\Include\

smoothalgorithms.mqh (133.8 KB) view

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This histogram is created based on the Momentum indicator values smoothed by Perry Kaufman's algorithm:

Indicator[bar]=AMA(Momentum(Price[bar]))

Breakout of the indicator zero level is a main trade signal in this indicator.

The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

ColorMomentum_AMA indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/468

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ColorMomentum_AMA - indicator for MetaTrader 5