The Move Tracker (MT) was authored by Omega Research 1996. The MT uses the difference of price and previous price for its main line; and for the signal line it uses the difference of MT and previous MT. The user may only alter the input (close). This indicator’s definition is further expressed in the condensed code given in the calculation below.
How To Trade Using Move Tracker
Although a signal line is plotted, no trading signals are calculated for this indicator.
How To Access in MotiveWave
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
//prev = previous, sig = signal
//index = current bar number
prevP = price[index-1]; Plot1: mt = price - prevP; prevMt = mt[index-1]; Plot2: sig = mt - prevMt;