Momentum Monitor

 

This indicator is based on Momentum.

You can use the following MT4 indicator (attached bellow) named Momentum Monitor to check instantly if the market is oversold/overbought/neutral according to the OSMA indicator and for up to ten currencies with a click of a button.

momentum

Using the indicator

– It shows what the market extreme conditions are using the Momentum Monitor indicator for the last 10 periods

↔     Neutral

 ↓     Oversold Level 1

      Oversold Level 2

     Overbought Level 1

    Overbought Level 2

When you attach the indicator to the chart you get the following options. Default values are selected.

 

period :  Number of periods for calculation of momentum

exlevel1 :  boundary for defining extremes level 1

exlevel2:  boundary for defining extremes level 2

extremeperiod :  number of last momentum values under which current is compared to determine if extreme

Currency #: Which currency pair to be analysed at position #

This indicator is also available in Multi Time Frames Version. Check it out here Momentum Monitor Multi Time Frame Version.


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