Pro Momentum Calculator

20 Ağu 2023

The Pro Momentum Calculator Indicator is a tool for traders seeking to gauge market momentum and predict future price movements. It achieves this by counting consecutive candle periods above or below a chosen Simple Moving Average (SMA) and then providing a percentage-based probability for the direction of the next candle.

Here's how this principle works:

1. Counting Consecutive Periods: The indicator continuously tracks whether the closing prices of candles are either above or below the chosen SMA.
- When closing prices are above the SMA, it counts consecutive periods as "green" or indicating potential upward momentum.
- When closing prices are below the SMA, it counts consecutive periods as "red" or suggesting potential downward momentum.

2. Assessing Momentum: By monitoring these consecutive periods, the indicator assesses the strength and duration of the current market trend.
This is important information for traders looking to understand the market's behavior.

3. Predicting the Next Candle: Based on the historical data of consecutive green and red periods, the indicator calculates a percentage probability for the direction of the next candle:
- If there have been more consecutive green periods, it suggests a higher likelihood of the next candle being green (indicating a potential upward movement).
- If there have been more consecutive red periods, it suggests a higher likelihood of the next candle being red (indicating a potential downward movement).

The Pro Momentum Calculator indicator's versatility makes it suitable for a wide range of financial markets, including stocks, Forex, indices, commodities, cryptocurrencies...

20 Ağu 2023

Sürüm Notları

Option to use Heikin Ashi candles removed

20 Ağu 2023

Sürüm Notları

minor changes

20 Ağu 2023

Sürüm Notları

EMA calculation added in addition to SMA

30 Ara 2023

Sürüm Notları

Minor changes

31 Ara 2023

Sürüm Notları

Minor adjustments made