SC MTF Momentum for MT5 with alert
- Indicators
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Krisztian Kenedi
MQL4 / MQL5 Developer | TrueTL Project Founder (since 2011)
I have been developing professional trading tools and custom algorithms since 2011. - Version: 5.22
- Updated: 27 March 2026
Momentum indicator with multi-timeframe support, customizable visual signals, and configurable alert system.
Freelance programming services, updates, and other TrueTL products are available on my MQL5 profile.
Feedback and reviews are highly appreciated!
What is Momentum?
The Momentum indicator measures the speed of price change by comparing the current price to the price a specified number of periods ago. It is one of the simplest and most fundamental momentum oscillators, expressed as an absolute or ratio-based difference between two price points in time.
Values above 100 indicate upward momentum (current price is higher than n periods ago), while values below 100 indicate downward momentum. The 100 level acts as the central line. Crossings of the 100 line signal potential trend changes, and divergences between momentum and price can foreshadow reversals.
Features:
- Visual signal markers with arrows and vertical lines
- Three independent signal buffers with configurable triggers
- Signal detection options: direction change, level cross, peak/valley
- Configurable alert functions for each signal (email, push, sound, popup)
- Multi-timeframe (MTF) capability with interpolation methods
- Histogram or line drawing mode
- Multiple color modes (simple, direction-based, level-based)
- Custom indicator call (iCustom) buffer access for Expert Advisor (EA) integration
Input Parameters:
- Basic Settings:
- Momentum period: Number of bars used for the price comparison (default: 14).
- Applied price: Price type used in the calculation (default: Close).
- Momentum bar shift: Offset the line drawing by a specified number of bars.
- Momentum timeframe: Choose the timeframe for MTF display.
- MTF on higher TF only: Restrict MTF display to timeframes higher than the current chart.
- MTF Interpolation mode: Select smoothing method (Off, Linear, Smooth, Weighted, Simple Moving Average).
- Maximum bars to calculate: Limit the number of bars calculated for performance optimization.
- Levels Settings:
- Show level: Toggle level line visibility.
- Adjust level value: Set custom level position (default: 100).
- Level appearance: Customize color, style, and width.
- Signal Settings:
- Signal 1/2/3 trigger: Configure detection type (direction change, level cross, peak/valley).
- Visual markers: Enable arrows and vertical lines with customizable size, style, and position.
- Arrow customization: Set Wingdings codes and colors for up/down signals.
- Alert Settings:
- Alert timing: Choose when alerts trigger (Off, After close, Before close, Both).
- Alert interval limit: Set minimum minutes between repeated alerts.
- Time range filter: Restrict alerts to specific hours.
- Delivery methods: Enable email, push, popup, and sound notifications.
- Color and Style Settings:
- Color mode: Select from multiple modes (simple, direction-based, level-based).
- Histogram mode: Switch between line and histogram display.
- Line appearance: Customize colors (4 per line), style, and width.
Adding this to my collection as a substitution for stock MT5 Momentum indicator. Comes with all alert types and customized colors based on level and directions. Wish Krisztian keep developing and optimizing for speed, at least monitoring it, for sometimes MT5 requires an indicator to be recompiled. Thumbs up!