Momentum Signal oscillator is based on Momentum, CCI, ATR, RSI and ADX indicators. It sets the market entry moment and direction.
There are seven configurable parameters:
- CCI period - CCI indicator parameter;
- ATR period - ATR calculation period;
- Momentum period - Momentum calculation period;
- RSI period - RSI calculation period;
- ADX period - ADX calculation period;
- Signal line offset - signal line shift relative to the oscillator line;
- Momentum line offset - oscillator line shift relative to 0.
Calculation:
Momentum = (ATR+CCI+RSI) / ADX - Momentum line offset
Signal = Momentum / (ATR+ADX) - Signal line offset
Interpretation: Oscillator line crossing the signal one displays the market entry direction.