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    Momentum
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      Momentum

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      Article summary


      Momentum is an indicator that quantifies acceleration and deceleration of the market prices over a specified period of time. The indicator line fluctuates above or below the zero line indicating uptrend (crosses above the zero line) or downtrend (crosses below the zero line).

      Momentum = (Price today / Price n periods ago) x 100

      where:
      Price – the data price source


      MomentumMomentum 


      INPUTS

      InputDescription
      LengthThe number of bars to go back to find the past price
      Price
      The following data sources are available for calculation of the EMA:
      • Open. The Open Price of every bar for the specified period.
      • High. The High Price of every bar for the specified period. 
      • Low. The Low Price of every bar for the specified period.
      • Close. The Close Price of every bar for the specified period. 
      • Median. The Median Price of every bar for the specified period - (High + Low) / 2.
      • Typical. The sum of High, Low, and Close prices divided by 3 for the specified period - (High + Low + Close) / 3.
      • OHLC average. The arithmetical mean of High, Low, Open, and Close prices for the specified period - (Open + High + Low + Close) / 4.
      • Volume. The Close Price of every bar + average volume of an asset for the specified period.

      PLOTS

      The plot renders the data you are working with on the chart. You can show/hide a plot by clicking the corresponding item in the settings. Every plot has a set of basic settings that you can change: color, weight, and type.

      PlotDescription
      MomentumThe Momentum plot
      ZeroThe zero level
      Color

      Click the color rectangle under the plot's name to open the palette. Use the slider at the bottom to set the opacity of the color.

      Palette

      To create a custom color:

      1. Clickto open the color picker
      2. By using the slider at the bottom, adjust the main color
      3. Then, set a shade for the main color on the palette

      The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette.

      Weight
      Change the value (in px) to adjust the thickness of the plot.
      Type
      The following plot types are available:
      • Linear. The plot is displayed as a line.
      • Column. The plot is displayed as a histogram.
      • DifferenceThe plot is displayed as a line which represents the difference between High and Low prices of the bar.
      • PointsThe plot is displayed as points.
      • Text above candleThe plot is displayed as the price labels above candles on the chart.
      • Text below candleThe plot is displayed as the price labels below candles on the chart.
      • Triangle above candleThe plot is displayed as triangles above candles on the chart.
      • Color candle. The candles on candle-type charts are highlighted with specified colors.

      OVERLAYING

      Check Overlaying to display the indicator on the chart. Otherwise, the indicator is shown in a study pane down below.

      Note: To reset the settings, click Restore to Default next to the SETTINGS: INDICATOR'S TITLE