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Salmon Momentum

1.CONSTITUTION

Salmon Momentum is a momentum indicator based on the RSI. It consists of two momentum oscillators (Waterfall and Salmon)  and three floating levels (upper, middler and lower). It is designed for the MT5 platform only.

2.OPERATION CONDITIONS

Buy signal:

  •  When the Waterfall [thick line] is above the upper band.
  •  Salmon [dotted line] crosses middler band .

Sell signal:

  •  When the Waterfall [thick line] is below the lower band.
  •  Salmon [dotted line] crosses middler band .

3. RECOMMENDED ASSETS TO TRADE

Generally, we use this indicator on the RENKO CHART for Scalp trading. [Step Index; Step Index 200, Step Index 500; Multi Step 2 Index and Multi Step 4 Index]

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Version 1.300 2024.07.16
In this update: we change dynamic bands to floating levels.
Version 1.200 2024.07.13
In this update, we've improved how data is calculated.