Blau_Mtm - MetaTrader 5 Script - MQL5 #360 - MT4/MT5 Resources
Author: Andrei N. Bolkonsky
William Blau's Momentum Indicator (see Momentum, Direction, and Divergence: Applying the Latest Momentum Indicators to Technical Analysis ).
Compared to the built-in standard Momentum indicator, it calculates absolute price changes. Additionally, it uses smoothing.
Attachment download
📎 blau_mtm.mq5 (6.41 KB)
📎 williamblau.mqh (4.52 KB)
Source: MQL5 #360
Blau_Mtm - MetaTrader 5 Script - MQL5 #360 Usage and Filtering Advice
Blau_Mtm - MetaTrader 5 Script - MQL5 #360 is a resource related to foreign exchange indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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