flexible momentum for mt5

Related: Quantora Multi-Timeframe RSI Dashboard MT5 - Professional RSI Momentum Analysis - another powerful indicator for MetaTrader 5 traders.

Also recommended: Quantora Multi-Timeframe MACD Dashboard MT5 - Professional Momentum and Trend Analysis - similar indicator with strong performance on MetaTrader 5.

flexible momentum (metatrader indicator)
— calculates the change of a currency rate during a given period (in seconds) and displays the result as a number of points and percentage in the main chart window of the platform. it offers highly customizable alerts based on thresholds for maximum momentum in points and percentage. because this indicator uses ticks history to calculate momentum, it works only in mt5.
the main purpose of this mt5 indicator is to inform you when there is a large price movement in a short period of time. this can be useful both when entering new trades and when you need to decide whether to exit an existing trade.
input parameters main

seconds
(default = 10) — how many seconds to calculate the price change over.

thresholdpoints
(default = 30) — a threshold in points for alerts to get triggered (if configured).

thresholdpercentage
(default = 0.02) — a threshold in percentage for alerts to get triggered (if configured).

discardifolder
(default = 1) — discard calculations if ticks used for calculations are older than the given number of seconds.

pricetouse
(default = bid) — the kind of price to use in calculations. can be ask, bid, or midprice. alerts

alertbehaviror
(default = no alerts) — what to do on a threshold breach?

no alerts — nothing.

single alert until next breach — a single alert will be issued until the momentum declines below the threshold. works separately for points and percentage thresholds.

continuous alerts whenever condition is met — if the momentum is above a threshold, issue alerts every tick.

alert on condition but with time limit on next alert — if the momentum is above a threshold, issue alerts with intervals defined by the next input parameter.

alerttimelimitforrestricted
(default = 5) — a pause in seconds until the next alert. works only if
alertbehaviror
is set to alert on condition but with time limit on next alert.

enablenativealerts
(default = false) — if true, a native metatrader popup alert will be used when an alert condition is fulfilled. display

font size
(default = 8) — font size for displayed text.

up color
(default = clrgreen) — the color of the text when price change is positive.

down color
(default = clrred) — the color of the text when price change is negative.

no change color
(default = clrblue) — the color of the text when there is no change in price or there are not enough ticks.

x distance for text
(default = 21) — horizontal distance in pixels from the chosen screen corner to the text.

y distance for text
(default = 20) — vertical distance in pixels from the chosen screen corner to the text.

text corner
(default = corner_left_lower) — chart corner to display the text.

text object name
(default = "fm_text") — object name for the text with the momentum value.

You may also like: candle painting based on momentum and news impact - excellent alternative for indicator users on MetaTrader 5.

#property description "Educational code - RobotFX www.robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
#property indicator_chart_window
#property indicator_plots 0
#property indicator_buffers 1 // Use one buffer to store the current momentum value for EA access.
enum ENUM_ALERT_BEHAVIOR
{
ENUM_ALERT_BEHAVIOR_NONE, // No alerts

.......

• 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.