Angular Momentum Indicator
Non-Repainting Indicator that is based on combined angular momentum of price levels from M1 to H1.
It is sensitive to the change of angular momentum on lower periods.
- Yellow Line - Market is trending up
- Red Line - Market is trending down
- Blue Line - Angular Momentum
- Crosses - Impulses that occur while the market is trending. (Can configure Alert to show or hide.)
You can use this indicator on any period from M1 to H1 without the need to configure any moving average period.
How to use
- When you see a Yellow Line, wait for the blue line to go to the lowest point and trade only when it is moving back up.
- When you see the Yellow Line is changed to Red Line, you should attempt to close your trades that are on the wrong direction of the market soon.
- When you see a Red Line, wait for the blue line to go to the highest point and trade only when it is moving back down.
- When you see the Red Line is changed to Yellow Line, you should attempt to close your trades that are on the wrong direction of the market soon.
Prerequisites: Please ensure that you have the ZigZag indicator, as this indicator depends on it.
In this way, position traders can use this indicator as well.
Default period will be set to H1, same as the default period for version 1.0
2) Notification alert is included.
(Email alert is dropped because of unreliability of email sending.)
3) Alert and notification will only be sent if they are uniquely different from the previous signals.