Momentum Indicator

FantomasX

Hello everyone, I just came across this great forum during a Google search. I was just wondering how I can replicate a Murphy momentum indicator, a kind of custom indicator (pretty easy). I would like to replicate the momentum line mathematically Momentum M = V - Vₓ. Could someone give me a tip please.

Thanks and best regards

lmkwin

It is a Rate of Change Indicator. On the New SharpCharts Workbench, it is the Indicator Rate of Change (ROC).
ROC can be used on it's own, to display the ROC for the Main Price panel.

If you were to add ROC to your chart but you wanted the ROC of Volume, you will NOTE that there is an Overlay option on the right side of each Indicator Line that you add. ROC is an option to overlay. This Overlay will display based on the data for the Indicator you have it on.

So, you would add a Volume Indicator to your chart, and at the end of that line, select ROC and for whatever period you choose (10). Click Update the Chart and your chart should display the current Volume and a ROC line. If you can't see it, Click on the Opacity field on the Volume line, change the Opacity to 0.1. Update the chart and you should see a current line for the ROC showing. There should be a Legend of values showing the the Upper Left of the panel so that you can see the value if the line movement is tough to see.

Murphy's Momentum Indicator is the ROC(10). He applied to Price as well.

FantomasX

Thanks that worked for me