Thanks for this useful article. Very informative.
how do we put in an alert to show the change from a 'No Signal' to a 'Buy or sell signal' comment
i don;t think its as simple as just puting a
Alert ()
as we need to find the switch from no signal to a signal
thanks
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New article Learn how to design a trading system by Momentum has been published:
In this article, I will try to share one of the most important concepts and indicators which is a Momentum indicator and I will share how to design a trading system by this Momentum indicator.
In this part, we will learn a simple strategy to use the Momentum indicator as there are many useful strategies or usage for Momentum but for the seek of education we will use and learn a simple strategy to learn how to use it and open the door for any other ideas can be appear after learning the core of the topic to open the door in front of designing these new ideas as trading systems by MQL5.
Our strategy that we need to use here is crossover which is generating signals based on crossover between Momentum line and 100 value or level. When Momentum line breaks above 100, it will be a buy signal and when Momentum line breaks below 100, it will be a short signal.
This signal will be generated based on the trend direction, and this to create a filtration for generated signal. As Momentum indicator gives an early signals and whipsaws and this way is from other ways that we can use to filter generated signals.
So, it will be the same like below:
Now if we want to see how this strategy can be useful to our trading and how signals can be generated, we can see that through the following picture as it will represent an example for the signal that can be generated during the uptrend by the Momentum crossover with the 100 value:
Author: Mohamed Abdelmaaboud