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Momentum solo

Momentum-Solo is a simple momentum Informer

  • The indicator will inform about strength in the appropriate direction
  • It is based on a minimum candle size and candle body in relation to the ATR


Filter

  • PSAR => arrows in PSAR direction only
  • MA, MA-Channel => Trend- and Sideway-Filter
  • MACD => short signals below 0 only, long signals over 0 only
  • Close to Trend => avoids too many signals while the trend runs
  • Correlation => signals only when a second, or a third instruments moves in the same direction


Alerts

  • alert, push-notification, arrows, send email, screenshot


Advantages

  • Signal after close, no repaint, no cross-over signal
  • Timeframes M5 to D1
  • All instruments supported
  • It is based on relation to the ATR
  • Send custom email header and content
  • Several periods of sideways movement will be hidden
  • Involve one or two other correlating instruments as a filter
  • The indicator will inform about strength in the appropriate direction
  • All filters are based on moving averages, and if you like, MACD or PSAR


Important rule

  • Look for an instrument with an obvious upcoming movement in a clear direction on a higher timeframe.
  • Entry after an Arrow => waiting for the pull back or wait for a second higher / lower candle, plus / minus a few pips.
  • Entries => above and below channels after first pull-back (price comes back to the channel and touches it).
  • Exit example => after a close beyond a High/Low of MA, here like 12 EMA H/L.
  • Exit example => after a trailing stop (take the distance between SL and Entry).
  • Exit example => major Fibonacci and dynamic support/resistance Lines. Use the same to move your stop and for taking first profits.
  • If the trade still runs, ignore further arrows.
  • SL below/above the second higher/lower candle.


Example

  • Higher Timeframe => H4
  • Trading Timeframe => H1
  • Look for an instrument with an obvious upcoming movement in a clear direction on H4, look for an opportunity on H1


Input parameters

  • Bars to process - the number of bars of the chart you want to be analyzed (60 to 1000 is recommended).
  • show Vola today, Spread, Countdown - if true, it shows information about the volatility for today, the current spread and the countdown of the current period.
  • Alert - activates the pop-up alerts.
  • Alert - the chosen info will be in the header and the first line of an email, if Email is enabled.
  • Email - if true, it shows the selected info in header and the first line of the email.
  • Notification - if true, it sends the alert to the MT4 APP of your smartphone.
  • Screenshot - if true, it sends the alter with a screenshot to ...\MetaTrader 4\MQL4\Files.
  • show first Alert-Arrow only "Live-Setting" - if true, there is no history arrow, only the first upcoming arrow of the trend direction will appear and stay, as long as the timeframe and instrument won't be changed.
  • show Arrows - if true, it shows the chosen arrows only.
    • Trend-Strength - predefined EMA with different settings provide the filter for the momentum.
  • very strong Momentum - if true, the momentum stands for solid candles and almost no wicks.
  • Momentum close to Trend only - if true, shows arrows close to the MAs that are predefined in the settings below.
    • Trend plus % of ATR - the distance from the MAs to the candle will be calculated by the size of the current ATR in the current period.
  • Parabolic Sar filter - a Momentum arrow occurs in the PSAR direction only (0.02 is recommended).
    • Parabolic Sar Step - value for Step.
    • Parabolic Sar maximum - value for Maximum.
  • Arrow Style - choose a arrow style = thin, cross, normal, hollow, Thumbs, Triangle.
  • Arrow Position - default is 0.6. Nice to have if you compare settings with a second/third indicator.
For the complete description for all parameters click the blog link below
https://www.mql5.com/de/blogs/post/716250


Description

  • Momentum close to the Trend = filters the Momentum closer to the higher Timeframe
  • Trend MA = filters the momentum in the preferred direction of the trading chart
  • Trend MA II = filters the momentum in the preferred direction of the higher timeframe
  • High price and Low price => builds a channel around the price and is used as an additional filter for vertical movements


How to work with the indicator / more settings

Try these Parameters for the following Timeframes, when trading these Timeframes:

  • All Timeframes M5 -> D1 always Trend MA = 12
    • D1 - Trend MA II = 12
    • H4 - Trend MA II = 48
    • H1 - Trend MA II = 48, 48 refers to H4, 288 refers to D1
    • M30 - Trend MA II = 96 (24), 96 refers to H4, 24 to H1
    • M15 - Trend MA II = 192, 192 refers to H4, 48 to H1
    • M5 - Trend MA II = 36 (144) (576), 36 refers to M15, 144 to H1, 576 to H4
  • H1 - Trend MA = 31
  • H1 - Trend MA II = 124 refers to H4
  • H1 - Trend MA = 31 MA Shift = 31
  • very strong Momentum = true
  • (try Momentum close to the Trend = true)


Try working with these features and set what you like most

  • very strong Momentum = true (the candle size is almost full-size)
  • Momentum close to the Trend = true (filters the Momentum closer to the higher Timeframe)


Recommendations

  • I don't trade after over-size-candles
  • I only go for a clear trend on the higher timeframe
  • I stay out before high-impact news hit the market
  • Always on my mind, major Support and Resistance
  • No trade without money-management, please calculate your risk, trade smart
  • There is no guarantee of success as in any trading business / in my examples above
nanee
225
nanee 2018.07.17 16:46 
 

Hi great Knights!

I'm very pleased with your light. Welcome to China.

Best Regards.

vtcpa04
1020
vtcpa04 2016.03.17 20:43 
 

Excellent product and seller.

Claus was very courteous, responsive, and professional after I informed him the alert function was not working properly.

Pip Collector
288
Pip Collector 2015.12.09 11:49 
 

Great product and great seller, really helpful indicator.

Especially if the next year upgrade for the "1st arrow only alert will show in history" could be release sooner \('-')/

4xplosion
674
4xplosion 2015.09.25 02:05   

Hi....do me a favor and respond to my email request...been 2 days now and I am renting it out and it's not loading unto my platform....

thanks!

golfguy37
788
golfguy37 2015.09.09 01:58 
 

Will be buying this soon, by far best indicator i have purchased on here. I trade London Open and over a 3 to 4 hour window i have been getting 50 to 75 pips with this indicator on a live account. Best indicator i have used. I trade 5 min but mostly 15 min with it.

Version 18.121 2018.12.09
added RSI level - RSI below X, for long
added RSI level - RSI above X, for short
- allows signals in overbought and oversold ranges
Version 18.12 2018.12.02
- MACD Divergence with static value X (candles before momentum), works with trend and inverse-trend setting
- RSI level above X (0-100) and below X (0-100), default 50
Version 18.9 2018.09.20
2. Email - Alert
2. email-comment field for Email-A / Email-B
- if you intend to forward emails to an blog or sozial media

new text-field for Account-Company
- if Account-details of your broker are not wanted in email
- you can discribe the account-typ, the Broker-Name won't appear
- only "default" will show the Broker-Name

bug fix email-custom-content
- custom-content will be posted to all set occaisions now
Version 18.7 2018.07.20
extended default email-header

default Email-Header-example old: MT4 Momentum solo Activity
default Email-Header-example new: MT4 Momentum solo Activity, USDCAD
Version 18.2 2018.03.06
new functions
===============
MACD filter, reacts over and below 0
PSAR filter, arrows in PSAR direction only
Correlation filter, for max. two more instruments
Screenshot with picture setup for height and width

expanded functions
====================
second price for the 2nd MA
value for the Arrow Position to the Candle
value for "Momentum close to the Trend only"
Version 16.11 2016.11.10
- Email header with time and/or date stamp
- Email footer for additional comments
- Second trend filter
Version 16.6 2016.05.25
- added a second Price to the moving average
Version 16.5 2016.05.13
- shows current Direction of all Timeframes, # = candle is bullish
- shows current Direction of all Timeframes, _ = candle is bearish
- added custom Email-Header / Email-Content
- changed some options to pull-down-menus
- added a moving average to the settings
Version 16.3 2016.03.17
- midnight bugfix (alert stopped working after midnight )
- switch long- / short - arrows off, leave the one you need
Version 16.2 2016.02.29
close_to_trend - feature
- shows arrows close to the trend
- less arrows, higher probabilities for a re-entry after a correction

former function "Sidekick" renamed to "strong_momentum"
Version 15.12 2015.12.08
- Added Push-Notification.
Version 15.8 2015.08.24
Momentum-Solo with "Momentum-Sidekick" - feature
- indicates stronger Momentum
- higher probability in non-trend situations