Momentum measures the price movement over a user defined time period. It is calculated as a ratio of the current bar’s price to the price several (N) bars ago. Formula: MOMENTUM = CLOSE(i) / CLOSE(i-N)*100. The user may change the input (close) and period length. This indicator’s definition is further expressed in the condensed code given in the calculation below.
How To Trade Using Momentum
No trading signals are calculated for this indicator.
How To Access in MotiveWave
Go to the top menu, choose Study>General>Momentum
or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.
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//input = price, user defined, default is close
//period = user defined, default is 14
//index = current bar number
curVal = price[index]; prevVal = price[index-period]; Plot: val = (curVal / prevVal) * 100;