MOM-TC_v2m_001

Download script
MOM-TC_v2m_001

This technical tool is designed to help traders visualize market momentum and identify specific price movements by analyzing the speed and strength of price changes. Instead of just showing where the price is, it focuses on the "force" behind the movement, helping users distinguish between active trends and stagnant periods.

Core Functionality

The script calculates a Momentum indicator based on a user-defined period (defaulting to 14). It transforms this data into a visual format in a separate window below the main chart, allowing traders to see whether the market is accelerating in a positive or negative direction.

Visual Components and Logic

The tool uses several layers of visual information to guide the trader:

  • Trend Identification (Histograms): The script automatically categorizes momentum into "Up" or "Down" trends based on whether the value is above or below a neutral baseline. It renders these as colored histograms, providing an immediate sense of the current market bias.
  • Directional Signals (Arrows): The indicator places specific visual markers (arrows) to highlight when the trend shifts. This serves as a quick reference point for when the momentum has officially flipped from bullish to bearish or vice versa.
  • Dynamic Tracking: It includes a tracking mechanism that follows the momentum movement, highlighting specific "Down" movements visually to help identify sustained periods of selling pressure.

Level Alerts and Crossing Logic

One of the primary features of this script is its multi-level alert system. Rather than just watching the general trend, the tool monitors five specific price thresholds:

  1. Overbought Levels: High positive momentum zones.
  2. Oversold Levels: High negative momentum zones.
  3. Neutral/Zero Level: The baseline for identifying the primary trend direction.

The logic is designed to trigger a notification whenever the momentum "crosses" any of these pre-defined levels. For example, if the momentum moves from an oversold state back toward a neutral state, or pushes into an overbought zone, the script identifies this transition as a significant event.

User Experience

The tool is built for proactive trading. By combining visual histograms, trend arrows, and real-time alerts, it provides a comprehensive view of market "heat." Traders can see at a glance whether a move is gaining strength or losing steam, while the alert system ensures they are notified immediately when price momentum breaches critical levels, potentially signaling a reversal or an exhaustion point in the market.

Indicators Used
Momentum indicator
Miscellaneous
Implements a curve of type %1It issuies visual alerts to the screen
10 Views
0 Downloads
0 Favorites
MOM-TC_v2m_001 
/*

//+------------------------------------------------------------------+
//|                         Momentum with Alert Cross and signal.mq4 |
//|                                                                  |
//|   Original: RSI with Trend Catcher signal by Matsu               |  
//|   Modified: Momentum with cross signal by Linuxser for Forex-TSD |
//| Modified by kalenzo, bartlomiej.gorski@gmail.com
//+------------------------------------------------------------------+

*/
//mod

#property indicator_separate_window
#property indicator_buffers 6
#property indicator_color1 LimeGreen
#property indicator_color2 LimeGreen
#property indicator_color3 Orange
#property indicator_color4 Orange
#property indicator_color5 LimeGreen
#property indicator_color6 Orange


#property indicator_levelcolor Brown
#property indicator_levelstyle STYLE_DOT


extern int       MOMPeriod=14;
extern int       MOMPrice=0;


extern double       obLevel2= 0.8;
extern double       obLevel1= 0.5;
extern double       Level0  = 0;
extern double       osLevel1=-0.5;
extern double       osLevel2=-0.8;





extern bool      Alerts = true;

extern bool       alertLevels2 =1;
extern bool       alertLevels1 =1;
extern bool       alertLevel0  =1;

extern bool       alertOBCrossUp=1;
extern bool       alertOBCrossDn=1;
extern bool       alertOSCrossUp=1;
extern bool       alertOSCrossDn=1;

double MOM[];
double Buy[];
double Sell[];
double DnMOM[];
double Levela[];
double hUP[],hDN[];
int Level= 0;



int init() 
{

   IndicatorBuffers(6);
   
   SetIndexStyle(0,DRAW_LINE);
   SetIndexBuffer(0,MOM);
   
   SetIndexStyle(1,DRAW_ARROW,STYLE_SOLID);
   SetIndexArrow(1,159);
   SetIndexBuffer(1,Buy);
   
   SetIndexStyle(2,DRAW_ARROW,STYLE_SOLID);
   SetIndexArrow(2,159);
   SetIndexBuffer(2,Sell);
   
   SetIndexStyle(3,DRAW_LINE);
   SetIndexBuffer(3,DnMOM);
   
   SetIndexBuffer(4,hUP);
   SetIndexStyle(4,DRAW_HISTOGRAM,STYLE_SOLID,1);
   
   SetIndexBuffer(5,hDN);
   SetIndexStyle(5,DRAW_HISTOGRAM,STYLE_SOLID,1);
   
   
   SetLevelValue(0,obLevel2);
   SetLevelValue(1,obLevel1);
   SetLevelValue(2,osLevel1);
   SetLevelValue(3,osLevel2);
   
   
   
   
   IndicatorShortName("Momentum ("+MOMPeriod+")");
   IndicatorDigits(2);
   
   return(0);
   
}



int start() 
{

   int counted_bars=IndicatorCounted();
   int shift,limit,ob,os;   
   bool TrendUp, TrendDn;
   bool dn = false;
   double BuyNow, BuyPrevious, SellNow, SellPrevious;
   static datetime prevtime = 0;
         
   if (counted_bars<0) return(-1);
   if (counted_bars>0) counted_bars--;
   limit=Bars-31;
   if(counted_bars>=31) limit=Bars-counted_bars-1;

   for (shift=limit;shift>=0;shift--)   
   {
            

      MOM[shift]=iMomentum(NULL,0,MOMPeriod,MOMPrice,shift)-100;

      ob = Level;
      os = Level;
      
      
      TrendUp=false;
      TrendDn=false;
      

      if(MOM[shift]>Level0) 
	  {
		TrendUp=true;
		hUP[shift] = MOM[shift];
		hDN[shift] = 0;
	  }	
      else if(MOM[shift]<=Level) 
	  {
		TrendDn=true;
		hDN[shift] = MOM[shift];
		hUP[shift] = 0;
	  }	 
      
      if (dn==true)
      {
         if (MOM[shift]>Level) 
         {
            dn=false;
            DnMOM[shift]=EMPTY_VALUE;
         }
         else
         {
            dn=true;
            DnMOM[shift]=MOM[shift];
			
         }

      }
      else
      {
         if (MOM[shift]<Level) 
         {
            dn=true;
            DnMOM[shift]=MOM[shift];
		 }
         else
         {
            dn=false;
            DnMOM[shift]=EMPTY_VALUE;
			
         }
           
      }
      
      


      if(TrendUp==true) 
      {
         Buy[shift]=ob;
         Sell[shift]=EMPTY_VALUE;
      } 
      else 
      if(TrendDn==true) 
      {
         Buy[shift]=EMPTY_VALUE;
         Sell[shift]=os;
      } 
      else
      {
         Buy[shift]=EMPTY_VALUE;
         Sell[shift]=EMPTY_VALUE;
      }
      
    }      
         

//       ======= Alert =========

   if(Alerts)
   {
      // if(prevtime == Time[0]) return(0);
      
         
     
   
     double  MOMNow = MOM[0];
     double  MOMPrev = MOM[1];
      


  bool cross=0, lv0cross=0, lv1cross=0, lv2cross=0;
  string  mess;
  
     
  
      if    (MOMNow >Level0   && MOMPrev<=Level0     && alertLevel0) 
                                          {cross=1; mess =   "0 UP";}

      if    (MOMNow <Level0   && MOMPrev>=Level0     && alertLevel0) 
                                          {cross=1; mess =   "0 DN";}
 
     
     
      if    (MOMNow >obLevel1 && MOMPrev<=obLevel1  && alertLevels1 && alertOBCrossUp)
                                          {cross =1; mess =  DoubleToStr(obLevel1,2)+"  UP";}

      if    (MOMNow <obLevel1 && MOMPrev>=obLevel1  && alertLevels1 && alertOBCrossDn)
                                          {cross =1; mess =  DoubleToStr(obLevel1,2)+"  DN";}


      if    (MOMNow >obLevel2 && MOMPrev<=obLevel2  && alertLevels2 && alertOBCrossUp) 
                                          {cross =1; mess =  DoubleToStr(obLevel2,2)+"  UP";}

      if    (MOMNow <obLevel2 && MOMPrev>=obLevel2  && alertLevels2&& alertOBCrossDn)
                                          {cross =1; mess =  DoubleToStr(obLevel1,2)+"  DN";}





      if    (MOMNow >osLevel1 && MOMPrev<=osLevel1  && alertLevels1 && alertOSCrossUp) 
                                          {cross =1; mess =  DoubleToStr(osLevel1,2)+"  UP";}

      if    (MOMNow <osLevel1 && MOMPrev>=osLevel1  && alertLevels1 && alertOSCrossDn)
                                          {cross =1; mess =  DoubleToStr(osLevel1,2)+"  DN";}



      if    (MOMNow >osLevel2 && MOMPrev<=osLevel2  && alertLevels2 && alertOSCrossUp) 
                                          {cross =1; mess =  DoubleToStr(osLevel2,2)+"  UP";}

      if    (MOMNow <osLevel2 && MOMPrev>=osLevel2  && alertLevels2 && alertOSCrossDn)
                                          {cross =1; mess =  DoubleToStr(osLevel2,2)+"  DN";}


     if (cross && prevtime != Time[0]) {
      
         Alert(Symbol(), " M", Period(), " Momentum Cross level " +mess );
   
         
         IndicatorShortName("Momentum ("+MOMPeriod+") (alerts on)");
         prevtime = Time[0];            }

   }

//       ======= Alert End =========


   
   return(0);
   
}

Similar scripts

MOM-TC_v2m

This indicator identifies directional momentum shifts and trend polarity by monitoring price velocity relative to specific overbought and oversold threshold crossovers.

MOM-TC_NEW

This indicator identifies trend reversals by monitoring price velocity relative to a fixed 100-point threshold, generating visual signals and alerts upon direction flips.

MOM-TC_v2

This indicator identifies directional shifts by monitoring momentum breaches relative to a fixed level, generating visual signals and alerts upon trend reversals.

CCIRSIDOT_v1

This indicator identifies trend transitions by detecting RSI zero-line momentum shifts in conjunction with CCI threshold breaches.

DoubleCCI-With_EMA_v1

This indicator synchronizes a fast and slow Commodity Channel Index (CCI) to visualize momentum trends while providing an optional Exponential Moving Average filter for smoothed signal analysis.

DoubleCCI-With_EMA

This indicator analyzes momentum by correlating a long-period Trend CCI with a short-period Entry CCI, utilizing an optional Exponential Moving Average and multi-timeframe adaptive period scaling to identify simultaneous directional shifts.

CCI_Woodies_Lnx_v5

This indicator synchronizes multi-period Commodity Channel Index (CCI) histograms with Linear Scans and Exponential Moving Averages to identify trend shifts and price momentum extremes.

2MA Crossover2-mtf

This indicator identifies trend reversals by detecting the precise intersection of two customizable moving averages and plots directional arrows with real-time visual and electronic alerts.

2MA Crossover_003

This indicator identifies momentum shifts by detecting precise intersection points between two customizable moving average types and triggers visual signals with real-time alerts.

EMA-Crossover_Signal_alert

This indicator identifies trend reversals by detecting precise crossover points between two exponential moving averages and plotting visual signals based on relative price volatility.

2MA Crossover

Detects precise bullish and bearish momentum shifts by identifying the crossover of two customizable moving average types with integrated visual markers and push notifications.

Comments