Indicators: Ultra Momentum
Pl code indicator of daily open when candle crosses daily open line up change color of indicator to green
and below red.
Pl share mq4 file.
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Ultra Momentum:
This indicator is based on Momentum and the analysis of a trend direction of its multiple signal lines.
A trend direction in this indicator is determined by the cloud color, while its power is determined by the cloud width. You can use the overbought (UpLevel) and oversold (DnLevel) levels that are set in percent value from the indicator maximum amplitude.
Also, the indicator provides the possibility to determine the direction of trend power change speed displayed as color squares. In case a trend power increases, the color of these squares will match the cloud color, otherwise, the squares will be colored in the opposite color.
Author: Nikolay Kositsin