Momentum is Smoother - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

The momentum indicator is one of the commonly used indicators in technical analysis. But it has a "problem": it is a very "tense" indicator - the values ​​it displays are far from smooth and in many cases can lead to a lot of false signals - regardless of the calculation period used.

This indicator is one of the possible solutions to this problem. Smoothing is not done by smoothing the magnitude values, but the calculation itself changes completely. Even with a completely changed calculation method, you can see by comparing it to "regular" momentum that these values ​​are still true momentum indicators, it's just that the values ​​are smoother and make the number of false signals insignificant compared to regular momentum.

PS: Just a simple example and comparison of smoothed momentum and "regular" momentum:

As can be seen, there is no lag compared to the "regular" momentum in the same period, quite the opposite: in some cases the smoother momentum leads compared to the regular momentum, and the value of the smoothed momentum is (as its name tells us) much smoother.

Attachment download

📎 smoother_momentum.mq5 (9.3 KB)

Source: MQL5 #20475