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Angular Momentum

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.


Indicator parameters

  • Alert - Set alert to true if you want to be notified by MT5 platform for each ordinary price spike.
  • Notification - Set notification to true if you want the notification to be sent to MT5 mobile app.
  • Period - Set the period in consideration for the general direction of the trend.


How to use

Long Trades:

  • 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.

Short Trades:

  • 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).


Prerequisite

  • Please ensure that you have the ZigZag indicator, as this indicator depends on it.
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Version 1.1 - 2018.01.08
1) Bug fix for "lag of 1 bar".
2) New global variable added [AM][Symbol][Period].
a) 1: Positive trend for the indicated period
b) -1: Negative trend for the indicated period