Anchored Momentum (AMOM), by Rudy Stefenel, is a modified momentum indicator to capture the relative momentum. AMOM uses SMA as the reference for deriving momentum, thereby anchoring it to that MA rather than "value of close n bars back".
Mr.Stefenel suggests using this like other oscillators -- crossing signal line, crossing zero, divergences.
For alerts, use "Momentum", "Signal" and "ZeroLine" plots.
Configurable options: - Momentum Period: Default is 10. - Signal Period: Default is 8. - Smooth Momentum: Default is FALSE. If TRUE, enables EMA(close) to be used rather than "close". - Smoothing Period: Default is 7. If momentum smoothing is enabled, this period is used. - Show Histogram: Default is FALSE. This is not histogram per se (indicator - signal), but is used for highlighting the crosses. Check out the histogram pane below to see an example. - Enable Barcolors: Default is FALSE. If enabled, colors the price data (bars/candles) using histogram color.
More info: Anchored Momentum, Stocks & Commodities V16:2 (89-98)
Thank you very much LazyBear for creating and sharing this indicator. From my first test with the Bitcoin price it looks like a really helpful indicator. Most people are mainly going to like the red and green colors. But I like the very few wrong signals and that it is still quite early with them in the higher risk below 0 area. Useful to very easily determine low risk/ high reward areas with this indicator. It's a keeper :)
LazyBear
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Thanks Chartart. Now, all i need to do is find a way for my indicators to send me 10% of all the profits made using them :)
ChuckiiRose
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This is a great indicator. What is the equivalent of this indicator I can use on MT4?
mwaschkowski2
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I think this indicator is great, thank you!
Uruguay1950
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Hello LazyBear, how are you? I hope you are well. Congratulations for the excelent job. It´s is possible to get such script for free to use in an other platform. I am a beginner on this financial world, and you indicator has been help me a lot. I awiat for you response. Best regards from Uruguay.
MarkPurol
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@Uruguay1950, What other platform...? You can use this on TradingView and have the other platform running without it.