Momentum is one of the most popular indicators available, the first choice of many traders. This relatively simple indicator is so popular because it measures the attenuation of the motion without the need for complex formulas. The momentum indicator represents a whole family of indicators that measure a movement’s strength. Other representatives, in this case, are the RSI or CCI, and so on. In the illustration below, the indicator is a graph that oscillates around a zero point. There is no fixed scale in percentage terms, and the value can be quite far removed from the zero point; this usually happens when the price makes an exceptionally strong leap, which is why the indicator predominantly shows the direction in which the current prices are moving towards.
Entry signals are generated when the indicator crosses the zero line.
Momentum (IDataSeries inSeries, int period)
Momentum (int period)[int barsAgo]
Momentum (IDataSeries inSeries, int period)[int barsAgo]
When using this method with an index (e.g. Momentum(14)[int barsAgo] ), the value of the indicator will be issued for the referenced bar.
inSeries Input data series for the indicator
period Number of bars included in the calculations
//Output of the values for the momentum indicator.
Print("The current value for the momentum is " + Momentum(14));