Angular Momentum Indicator
Non-Repainting Indicator that is based on combined angular momentum of price levels using configured period as main reference.
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.
You can use this indicator on any time frame without the need to configure any moving average period.
- Alert - Set alert to true if you want to be notified by MT4 platform for each ordinary price spike.
- Notification - Set notification to true if you want the notification to be sent to MT4 mobile app.
- Period - Set the period in consideration for the general direction of the trend.
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.
Global variable written
- [AM][Symbol][Period] - It is the general direction of the trend (1 is positive trend, -1 is negative trend).
- Please ensure that you have the ZigZag indicator, as this indicator depends on it.
2) New global variable added [AM][Symbol][Period].
a) 1: Positive trend for the indicated period
b) -1: Negative trend for the indicated period
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.