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The word "momentum" of course means different things (like trend, wave, pullback and other terms)...
but if you look at the chart forgetting that this is the price, then you get, for example, this:
an upward momentum is such a price movement, when on a lower timeframe low changes at a rate of at least N points per bar, without forming "fractals". And the total movement exceeds the sigma of the selected TF. This translates as "the price goes up quickly, without counteraction and creates long candles with a big body". But the reverse is not true - a candle with a big body may not be an impulse.
There's not much to think about.
Impulse = (Abs(CLOSE-OPEN))/Volume
What does Abs stand for?
What does Abs stand for?
is an absolute value, i.e. ignoring the sign.
PS/ If Volume is a tick volume in this formula, then it is almost equivalent to (CLOSE-OPEN)/(HIGH-LOW). In order to get it right, you should not correlate it with the Volume, but with its typical value at the moment of a certain period. I think so. Volume does not fit
What does Abs stand for?
Module. Look it up in Excel and check this formula - it should fit your requirements.
is an absolute value, i.e. ignoring the sign.
PS/ If in the given formula Volume is tick volume, it is almost equivalent to (CLOSE-OPEN)/(HIGH-LOW). In order to get it right, you should not correlate it with the Volume, but with its typical value at the moment of a certain period. I think so. Volume does not fit
Uh-huh. You could check that formula too. It's often flashed here on the forum.
Module. Look it up in Excel and check this formula - it should fit your requirements.
Now I'm completely lost. What is a module? Can you put it in simple terms
is an absolute value, i.e. ignoring the sign.
PS/ If Volume is a tick volume, it is almost equivalent to (CLOSE-OPEN)/(HIGH-LOW). In order to get it right, we should not correlate it with the Volume, but with its typical value at the moment of a certain period. I think so. Volume does not fit
This formula is more or less clear
Now I'm completely lost. What is a module? In layman's terms.
is an absolute value. See Wikipedia and Excel. So how do you write a TOR for a programmer? Like, on a whim? You'll get ripped off.
is an absolute value. See Wikipedia and Excel. How do you write a ToR for a programmer? Do you do it on a whim? You're gonna get ripped off.
That's what I'm trying to figure out.
Let's say opening 100 closing 200 high 250 low 50
(200-100)/(250-50)=0.5. What gives me 0.5?
That's what I'm trying to figure out.
Suppose I open 100 close 200 high 250 low 50
(200-100)/(250-50)=0.5. What does 0.5 get me?
Do I know?
Get the archives of minutes from somewhere. In Excel, enter the two formulas in the two columns. Look at the obtained values, and then look at the graph visually and check if the values correspond to your perception of the impulse.
And then build the algorithm, having the momentum formula in your pocket.
That's it.