The Momentum Indicator has several underlying indicators used within its algorithm. A solid line above the dashed line indicates a bullish momentum, while a solid line below the dashed line indicates a bearish momentum. Momentum direction is indicated by how the two lines crossover. Its main oscillator line is the solid line, while the dashed line is called the signal line. However, its oscillations are smoother compared to the tight oscillations of the Stochastic Oscillator. ![]() This version of the Momentum Indicator plots two lines which oscillate within the range of zero to 100, much like the Stochastic Oscillator. It is derived from various underlying indicators such as the classic Momentum Indicator, Stochastic Oscillator, and Moving Averages.Īlthough this indicator is named Momentum Indicator, it is different from the basic Momentum Indicator which is available as a preinstalled indicator on the MT4 platform. The Momentum Indicator is an oscillator type of technical indicator which indicates trend and momentum direction. It is a tool which can provide objective indications of probable momentum reversals. ![]() The Momentum Indicator is an oscillator which uses a complex formula based on other oscillators and indicators. Traders can easily identify momentum reversals based on objective rules that can be observed from an oscillator. ![]() Oscillators can be an objective basis for identifying possible momentum reversals.
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