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
- 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
- alert, push-notification, arrows, send email, screenshot
- 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
- 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.
- 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
- 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.
- 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)
- 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
- pull-down selection for Email-Header and first line in Email
- pull-down selection for date/time-zone in email and screenshot
- choose Broker- Local- or UTC/GMT- Time
improved chart-performance, it shows the first arrows after a change of direction without waiting
improved the counting of the arrows, now it doesn't matter when the indicator has applied, now it counts correctly after the last change of direction
added 3.Email (Email with custom Header and Content; - at the end of the settings)
added alert-switch when -Bars to process- lower than 500
removed feature MACD- and RSI- Divergence
• close to trend Line moved to ctt-settings
• added "Profil-menue"
- 200 sma
- 200 sma / 50 sma crossover
- 8, 13, 20 ema
- 12 ema-Channel, no cross-over
- 12 ema-Channel, shift 36
- 10, 50 ema - 200 sma
- H4 60 ema h/l, close to Trend 0, 60ema, 200sma
- H1 60 ema h/l, close to Trend 0, 20ema, 60ema, 200sma
- added description for default Trend-Functions
Trend, normal = 8ema 13ema 20ema
Trend, stronger = 8ema 13ema 20ema 36ema
Magic, shifted Trend (similar to Hurst) = 1sma shift36
- screen clears after deleted additional Info from chart
alert, send email, push-notification, screenshot;
if you want,
default is off = no Price will be send to any alert;
AUDUSD, H1 1.Arrow => up 0.71046 Demo-Accou...
added RSI level - RSI above X, for short
- allows signals in overbought and oversold ranges
- RSI level above X (0-100) and below X (0-100), default 50
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
default Email-Header-example old: MT4 Momentum solo Activity
default Email-Header-example new: MT4 Momentum solo Activity, USDCAD
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
second price for the 2nd MA
value for the Arrow Position to the Candle
value for "Momentum close to the Trend only"
- Email footer for additional comments
- Second trend filter
- 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
- switch long- / short - arrows off, leave the one you need
- shows arrows close to the trend
- less arrows, higher probabilities for a re-entry after a correction
former function "Sidekick" renamed to "strong_momentum"
- indicates stronger Momentum
- higher probability in non-trend situations