The Momentum MT4 forex indicator is often used in forex strategies and systems.
It basically measures and displays the amount of price change over a given time span.
Momentum can be used as a trend-following indicator or as a leading indicator.
This indicator can be used for scalping, day trading, swing trading, and position trading on any currency pair.
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Download the “Momentum.mq4” MT4 indicator
Indicator Chart (CAD/JPY H1)
The CAD/JPY H1 chart below shows the Momentum forex indicator in action.
Basic Trading Signals
Momentum trading signals are simple to interpret and go as follows:
Buy Trade: Go long when the indicator makes a bottom and turns back up.
Sell Trade: Go short when the indicator makes a top and turns back down.
Tip: Add a longer-term moving average to the trading chart and trade in the overall direction of the trend indicated by the longer-term moving average.
Trend up? Only trade Momentum buy trade signals
Trend down? Only trade Momentum sell trade signals
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Download the “Momentum.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (Momentum Period) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Momentum
