New version of Momentum oscillator smoothed multiple timeframe indicator with alerts.
This is enhanced version of the Momentum indicator originally developed by Tushar Chande in 1994.
The what’s new to original one:
I added here multiple timeframe support so you can see higher timeframe on current chart.
Parameters to smooth the indicator to reduce noise.
Additional signal line.
Three types of signal logic.
Alerts with arrows so you can use your time more effective.
TimeFrame – timeframe of indicator (current by default)
MomentumPeriod – amount of bars to calculate Momentum line
SignalPeriod – amount of bars to calculate signal line
Price – price type
OverBoughtLevel – higher signal level (100 by default)
OverSoldLevel – lower signal level (100 by default)
Signal_Method – three types of signals:
SignalCrossover – momentum line Crossover Down signal line above overbought level and momentum line crossover Up signal line below oversold level
BreakOutLevels_Signals – momentum line crossover Down overbought level and momentum line crossover Up oversold level
BreakInLevels_Signals – momentum line crossover Up overbought level and momentum line crossover Down oversold level
IndicatorSmooth – amount of smooth (1-off)
IndicatorSmoothMethod – smooth formula
DrawBars – amount of bars to draw indicator data
PopupAlert – enable terminal alert windows
SoundAlert – enable sound alerts
ArrowsOnChart – enable draw arrows on price chart
IndicatorArrows – enable draw arrows on indicator sub window
SMSPushAlert – Push alerts to your phone
EmailAlert – Email alerts to your phone
Buy_ArrowColor – color of buy arrows
Sell_ArrowColor – color of sell arrows
Arrows_Width – width of signal arrows
Momentum_Line – color of Momentum line
SIGNAL_Line – color of signal line
Three types of built-it logic gives ability to trade with signals by a trend, corrections, swings.
As the original one very good for finding divergentions (momentum descending)
How to install :
1. Download file
2. Unzip archive and copy the MQL4 folder from the archive to your terminal Data folder
3. Restart terminal and apply the indicator to a chart
4. Register a valid email with single time donation or log in with previously registered email address.
5. You can switch your broker account any time you need by logging in with previously registered email address
How to find Data folder :
in the terminal click File menu – Open Data Folder