![]() ![]() ![]() The first step is to choose a value for N, whose default value in both MT4 and MT5 is 14, however, you can set it to whatever value you wish. The Momentum Forex Indicator makes a comparison between the current price and the price N periods previously, where N is a number which is chosen by the trader. ![]() However, seeing how it is calculated provides us with a better understanding of how the indicator works. The Momentum Indicator formula is actually quite straightforward, nevertheless, you won’t need to worry about doing the calculations yourself, as both MT4 and MT5 will take care of that for you. Now that we know what momentum indicators are, let’s take a look at how the Momentum Indicator calculation is made. In this article, it is the last of these three which we will be focussing on. Momentum can be a useful tool in determining the strength, or weakness, of an asset’s price movements.Īmongst the most well-known and best momentum indicators are the Relative Strength Index (RSI), the Moving Average Convergence Divergence (MACD) and the Momentum Indicator found in MT4 and MT5. Momentum indicators are technical indicators which depict the momentum behind an asset’s price, by measuring the rate of its rise or fall. Final Thoughts What Are Momentum Indicators?.How to Use the Momentum Indicator MT4 & MT5.The histogram will help you understand how strong the current trend is and will tell you when to exit a trade on the trend's weakening. The main idea behind this indicator is to establish trading ranges during the non-trending phase of the market ( blue histogram bars) to enter on a breakout and a switch to normal bars. When the Bollinger Squeeze indicates a sideways market (Bollinger bands are inside the Keltner channel), the histogram bars change to thick blue ones. Downtrend waves are marked with red bars below the zero line.Īdditionally, Bollinger Squeeze Advanced provides a volatility measure built into the main histogram.Uptrend waves are marked with green bars above the zero line.The indicator uses one of the eight oscillator indicators to measure the trend's strength and direction and display it as a histogram: TriggerCandle (default = Previous) - the candle to issue alerts on: Previous - the most recently closed candle or Current - the yet unfinished candle.Notifications should be properly configured in MetaTrader via Tools->Options->Notifications. EnablePushAlerts (default = false) - if true, indicator will use MetaTrader's push notification alerts.Email should be properly configured in MetaTrader via Tools->Options->Email. EnableEmailAlerts (default = false) - if true, indicator will use MetaTrader's email alerts.EnableNativeAlerts (default = false) - if true, indicator will use MetaTrader's native pop-up alerts.AlertBelowLevel (default = 0) - an alert level when the indicator's value falls below it.AlertAboveLevel (default = 0) - an alert level when the indicator's value rises above it.AlertOnZeroCross (default = false) - if true, the indicator will issue alerts when the histogram crosses the zero line or the levels defined via the two input parameters below.AlertOnSidewaysTrending (default = false) - if true, the indicator will issue alerts when market conditions change from Trending to Sideways or vice versa.DeMarkerPeriod (default = 13) - the period for the DeMarker indicator (if set via TriggerType).ADXPeriod (default = 14) - the period for the ADX indicator (if set via TriggerType).WilliamsPRPeriod (default = 24) - the period for the Williams % Range indicator (if set via TriggerType).MomentumPeriod (default = 14) - the period for the Momentum indicator (if set via TriggerType).MACDMACDEMAPeriod (default = 9) - the signal line period for the MACD indicator (if set via TriggerType).MACDSlowEMAPeriod (default = 26) - the slow EMA period for the MACD indicator (if set via TriggerType).MACDFastEMAPeriod (default = 12) - the fast EMA period for the MACD indicator (if set via TriggerType).RSIPeriod (default = 14) - the period for the RSI indicator (if set via TriggerType).CCIPeriod (default = 50) - the period for the CCI indicator (if set via TriggerType).StochasticPeriod (default = 14) - the period for the Stochastic indicator (if set via TriggerType).TriggerType (default = DeMarker) - the oscillator indicator for the trend measurement histogram.The indicator can display higher timeframe data on a lower timeframe chart. Timeframe (default = Current) - the timeframe to draw the data from.If you are interested in Bollinger Squeeze indicators, you might also be interested in a simpler version - Bollinger Squeeze Basic. ![]()
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