- Yaser Sabbaghi
- Version: 1.3
- Updated: 26 September 2017
- Activations: 5
Advanced and affordable momentum indicator that fade the fake move of market. It is smoothed because of special sophisticated exponential averaging calculation. It is also similar to special type of CCI with more tolerance to overbought or oversold conditions with built-in momentum indication. This indicator is able to empower your trading as a trend detector, CCI and market momentum scale measurement.
- Smoothed to filter uncomfortable noises.
- Non-Lagging Exponential averaging.
- Line or Histogram drawing.
- Momentum on both bullish and bearish move.
- You can also use it like CCI indicator.
How to use it
- Trend Following, GREEN for Bullish and PINK for Bearish. Take Buy position when the indicator make a bottom and reverse upward or take Sell position when the indicator peaks and reverse down.
- Momentum Strength, higher value means higher strength. In case that this indicator reached to extremely high or low values (relative to its historical values), you should assume a continuation of the current trend. For example, if the Momentum indicator reaches extremely high values and then turns down, you should assume prices will probably go still higher. In either case, only trade after prices confirm the signal generated by the indicator (for example, if prices peak and turn down, wait for prices to begin to fall before selling).
- A Bullish divergence occurs when the price is making new lows while the indicator fails to make a new low.
- A Bearish divergence occurs when the price is making new highs while the indicator fails to make new highs.
Both of these divergences are most significant when they occur at relatively overbought/oversold levels.
- Indicator_Type: To set the type of indicator drawing to LINE or HISTOGRAM.
- FirstMomentumAveraging: Exponential Averaging periods that would be apply over Candles height.
- SecondMomentumAveraging: Exponential Averaging periods to smooth the first one averaging.
- ThirdMomentumAveraging: Exponential Averaging periods to smooth the second one averaging.
- SafeMode: By set it to true, the indicator color is changed by passing zero level.
- Alert when market change: Alert in MT4 terminal when the market change direction and indicator pass the zero line.
- Mobile Phone Notification: Send notification to your mobile phone when the market change direction and indicator pass the zero line.