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Published by:: Nikolay Kositsin
Views:: 16936
Rating:: (31)
Published:: 2011.08.09 18:16
Updated:: 2016.11.22 07:32

ftlm-stlm.mq5 (28.37 KB) view

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Real author:

Vladimir Kravchuk "New Adaptive Method of Following the Tendency and Market Cycles"

Fast Trend Line Momentum (FTLM) and Slow Trend Line Momentum (SLTM) indicators show the rate of price change, FATL and SATL are calculated the similar way as Momentum indicator:

FTLM(bar) = FATL(bar) – RFTL(bar)
STLM(bar) = SATL(bar) – RSTL(bar)

where:

FATL(bar) - FATL digital filter;
RFTL(bar) - RFTL digital filter;
SATL(bar) - SATL digital filter;
RSTL(bar) - RSTL digital filter;

Coefficients of FATL and RFTL digital filters

< Coefficients of SATL and RSTL digital filters

Coefficients of SATL and RSTL digital filters

The main difference FTLM from the classic Momentum indicator is the following: it uses the close prices, processed by digital fiters instead of close prices itself. As a result, FTLM looks smoothed and regular, in contrast with classic Momentum technical indicator.

Fast Trend Line Momentum (FTLM) and Slow Trend Line Momentum SLTM) indicators

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/407

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FTLM-STLM - indicator for MetaTrader 5