OC Momentum – indicator for MetaTrader 4
OC Momentum oscillator uses Open and Close price to calculate its value.
The only variable n default value is 3. It can be modified obviously.
The histogram simplifies identification of trade entry.
Usage in trending markets:
Points 1 and 2 form a trendline.
Entry signal is when the indicator curve crosses the zero line and the first histogram bar of propper color is
Points 3,4 and 5 present possible entry points.
Take into account that no trend is endless.