Cumulative Momentum is a custom built technical oscillator for MT4 that provides short-term trend direction for any currency pair.
The indicator is most useful for scalpers and day traders.
The indicator appears in a bottom chart window as a green line that fluctuates above and below the zero level.
The trading rules are very easy and buying and selling pairs with this indicator works well in rapid changing market environments.
Key Points
- Provides buy & sell signals in the form of an oscillator.
- Can be combined with trend indicators.
- Good for scalpers and day traders.
- Well worth adding to your indicator collection.
Cumulative Momentum can work together with any existing trading strategy or system as an additional shorter-term signals indicator.
Free Download
Download the “cumulative_momentum.mq4” MT4 indicator
Indicator Example Chart
The EUR/USD H1 trading chart below shows the Cumulative Momentum indicator in action.
Basic Trading Signals
Signals from the Cumulative Momentum Forex indicator for Metatrader 4 are easy to interpret and goes as follows:
BUY:
- Open a buy position as soon as the green line crosses the zero level bottom-up.
- Set a stop loss below immediate support.
- Use your own take profit method, or simply wait for an opposite sell trading signal.
SELL:
- Open a sell position as soon as the green line crosses the zero level top-down.
- Set a stop loss above immediate resistance.
- Use your own take profit method, or simply wait for an opposite buy trading signal.
Download This Forex Indicator
Download the “cumulative_momentum.mq4” MT4 indicator
Adjustable Parameters & Settings
Length, price, MA length, MA method, colors, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Supported currency pairs: Any
Trading Platform: Metatrader 4 (MT4)
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Oscillator
How to install the Cumulative Momentum indicator in Metatrader 4?
- Copy and paste the Cumulative Momentum indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button