Watch how to download trading robots for free

Find us on Facebook!
Join our fan page

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

Views:

7412

Rating:

(20)

Published:

2018.10.18 11:16

Updated:

2019.01.30 08:02

Directional momentum of average.mq5 (11.45 KB) view

Download as ZIP, How to download code from MetaEditor

Need a robot or indicator based on this code? Order it on Freelance Go to Freelance

Calculation

The calculating method is deviation when compared to usual momentum calculation. Momentum is calculated as a sum of absolute differences of current price to the price 1 period ago and then compared to the ratio of current price to the price several (N) periods ago.

ABS MOMENTUM = SUM(ABS(CLOSE(i)-CLOSE(i-1))
MOMENTUM = CLOSE(i)>CLOSE(i-N) ? ABS MOMENTUM : - ABS MOMENTUM

where:

CLOSE(i) — is the closing price of the current bar;
CLOSE(i-1) — is the closing bar price 1 periods ago.
CLOSE(i-N) — is the closing bar price N periods ago.

This version :

The indicator can use filtered price for calculation now - that way, if the slope of the momentum is used for decisions the number of signals (and fake signals) is lessened significantly. The lag added is acceptable (that can easily be checked by comparing this version to the built in momentum using same period)
For the above purpose the indicator can use one of the 4 averages types :

simple moving average (SMA)
exponential moving average (EMA)
smoothed moving average (SMMA)
linear weighted moving average (LWMA)

PS: the "big picture" comparison of this momentum and the regular momentum and the comparison of the decision points

Volatility adjusted WPR

Volatility adjusted WPR (Williams Percent Range)

Volatility adjusted RSI

Hull levels

Rsi (var) - Hull

RSi (var) - Hull average

Directional smoothed momentum - indicator for MetaTrader 5