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Indicators

Momentum and news impact candles - indicator for MetaTrader 5

Conor Mcnamara
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Providing a clearer view of market direction and price activity with candles that are painted by bullish momentum (green), bearish momentum (red), weak or no momentum (gray), and news impact/candle expansion (silver).

Bullish momentum  = Green (0.0)

Bearish momentum = Red (1.0)

Weak momentum = Gray (2.0)

News impact (candle expansion) = Silver (3.0)


Default momentum period is 4 which finds sharp momentum changes

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