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Momentum Pinball

Momentum Pinball indicator helps to determine a day for trading.

The trading strategy depends on values of Momentum Pinball indicator (at the moment, when daily bar is completed).

Usage:

  • If Momentum Pinball>70, it is recommended to open short positions only;
  • If Momentum Pinball<30, it is recommended to open long positions only;

Momentum Pinball indicator is based on Momentum (the difference between the today's and yesterday' close price). It uses the Relative Strength Index (RSI) indicator  (ExtPeriodRSI=3), applied to Rate of Change (ROC) indicator (ExtPeriodROC=1).

For work it needs the Rate of Change (ROC) indicator (included in the standard package of MetaTrader 5 client terminal) in the terminal_data_folder\MQL5\Indicators\Examples.

The Momentum Pinball indicator works on daily (D1) timeframe.
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