MTM - Momentum Indicator by Hampeh

momentum trendanalysis mtm mtmma indicators strength trend

MTM - Momentum

Description
The Momentum indicator is a speed of movement indicator that is designed to identify the speed (or strength) of price movement. This indicator compares the current close price to the close price N bars ago and also displays a moving average of this difference.

Category
Momentum Indicators

Parameters
N ( Default: 6 Min: 1 Max: 100 )
N1 ( Default: 6 Min: 1 Max: 100 )

Chart Script
MTM : CLOSE-REF(CLOSE,N);
MTMMA : MA(MTM,N1)

Release Notes:

+ Remove hline
+ MA color change when cross

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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