​The "Two_momentum" indicator introduced here is a trend capturing tool. Because it is a leading indicator, you can quickly see if a trend is occurring or not.

The indicator "Two_Momentum" for Metatrader 4 is perfect when you want to trade "momentum" crossovers.

Download the indicator for free at the bottom of this page.

Unique Momentum indicator mt4 forex
Example of displaying this indicator on the EuroDollar hourly chart

"Two_Momentum" draws short-term and long-term momentum lines in the sub-window. In the example above, the blue line is the short-term momentum and the yellow line represents the long-term momentum. This makes it easy to trade "momentum" crossovers.

Tips for use:

1. Analyzing the two momentums can be useful for market analysis.

  • For example, if both momentums are rubbing together, as in "A" in the image below, a strong range market may be occurring.
  • If both momentums rise and fall sharply, as in "B", it is proof that strong price movements have occurred.
  • On the other hand, when the distance between the two momentums is large, such as "C", it indicates a trend correction, a range market, and a reversal.

advanced Momentum indicator trends sideways metatrader
Momentum calculation period applies 5 and 14

2. Trade the crossover.

It is a good idea to trade the momentum crossover using the "Two_Momentum" indicator. In this case, it is better to use larger periods for the momentum calculations (20 and 50, etc.). For example, you can see that the short-term momentum crosses the long-term momentum downward in the red area in the image below. In this case, aim to place a sell order.

mt4 profitable momentum custom indicator
Momentum calculation period applies 20 and 50

Compatibility: MT4

Parameters:

  • FastMom  - The period used to calculate fast momentum
  • SlowMom  - The period used to calculate slow momentum

Download the "Two_Momentum" indicator from the button below

free download


Tip: Can’t open the downloaded archive file (ZIP or RAR)?
Try WinRAR for Windows or The Unarchiver for Mac .


Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.





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