A better Momentum Indicator?

Posted By black Wednesday, April 04, 2012
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black
 Posted Wednesday, April 04, 2012
Supreme Being

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The file name is Mom+Ema_v_1.acti, attached below.

This Momentum Indicator works directly on the prices rather than using a percentile system. Because of this, the results show up as plus and minus numbers. This makes it easy to see when the price is moving in a bull or bear direction. Also, a centerline of "0" can be added to make viewing easier yet.

An EMA (Exponential Moving Average) line has been added to further help determine price movement.

In addition, the Momentum can be calculated either on the Close or the Median. Anyone who wants can easily adjust the scripting to work on Open or High or Low as well.

Enjoy!


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 Mom+Ema_v_1.acti (36 views, 1.96 KB)
Wednesday, April 04, 2012 by black

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