FX5_SelfAdjustingMomentum - MetaTrader 5 Script - MT4/MT5 Resources

Momentum oscillator, the boundaries of its overbought/oversold zones are presented in the form of Bollinger Bands.

Indicator input parameters:

 Input unit length = 12 ; // Momentum period
Input ENUM_APPLIED_PRICE momentum price = PRICE_CLOSE ; // Price type of momentum time series
Enter double the band deviation = 2.0 ; // deviation
Input boolean MA_method= true ; // Use smoothing for Bollinger Bands
Enter integer shift = 0 ; // indicator moves horizontally (in bars)

Figure 1. FX5_SelfAdjustingMomentum indicator

Attachment download

📎 fx5_selfadjustingmomentum.mq5 (9.03 KB)

Source: MQL5 #13666