Forex: Mometer Indicator for NinjaTrader
The Mometer Indicator signals when there is stronger price movement relative to previous bars. This allows the user to objectively determine current momentum conditions. Since strong momentum is almost always followed by exhaustion and a price pullback, accurately establishing momentum increases our edge. The Mometer Indicator has several user-defined parameters, including 4 threshold levels and a look-back period. These parameters allow the trader to determine different visual cues for increasing and decreasing momentum.
- Add to any chart or time frame
- Prints on the current bar in real time
- Momentum detection and precise measurement of the velocity of these trends
- Toggle on/off
- Works great with the SpeedTick and FTReset to create a powerful exhaustion trade
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