directional smoothed momentum
Info
The directional smoothed momentum is a Indicator for MetaTrader 5 that calculationthe calculating method is deviation when compared to usual momentum calculation. momentum is calculated as a sum of absolute differences of current price to the price 1 period ago and then compared to the ratio of current price to the price several (n) periods ago.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use directional smoothed momentum
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
calculationthe calculating method is deviation when compared to usual momentum calculation.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: AIS Smoothed Linear Trend Indicator - another powerful indicator for MetaTrader 5 traders.
calculation
the calculating method is deviation when compared to usual momentum calculation. momentum is calculated as a sum of absolute differences of current price to the price 1 period ago and then compared to the ratio of current price to the price several (n) periods ago.
Also recommended: KCI Directional Matrix - similar indicator with strong performance on MetaTrader 5.
abs momentum = sum(abs(close(i)-close(i-1))momentum = close(i)>close(i-n) ? abs momentum : - abs momentum
where:
close(i) — is the closing price of the current bar;
close(i-1) — is the closing bar price 1 periods ago.
close(i-n) — is the closing bar price n periods ago.
ps: the "big picture" comparison of this momentum and the regular momentum and the comparison of the decision points
You may also like: heiken ashi smoothed indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.