indicator · own pane · open source
Momentum
Running…
Loading chart…
About
Momentum is the raw point difference between price N bars ago and the current bar. Same zero-line logic as ROC, but in absolute price units rather than percent.
- Best on shares of fixed-point value; for crypto/forex prefer ROC.
- Zero-line crosses are momentum signals.
- Pair with a price envelope to normalise.
Source code
//@version=5
indicator("Momentum", overlay=false)
len = input.int(10, "Length", minval=1, maxval=200)
src = input.source("close", "Source")
mom = ta.mom(src, len)
hline(0, "Zero", color=color.gray, linestyle=hline.style_dotted)
p_Momentum = plot(mom, "Momentum", color=color.aqua, linewidth=2)
alertcondition(ta.crossover(mom, 0), "Mom crosses zero up", "Momentum turned positive")
alertcondition(ta.crossunder(mom, 0), "Mom crosses zero down", "Momentum turned negative")
No comments yet.
Sign in to comment.