Excessive Momentum Indicator Manual

Excessive momentum indicator referes to the indicator that can detect too much momentum in Forex and Stock market as the part of momentum trading strategy. When unusually high momentum (=Excessive Momentum) is observed in Forex and Stock chart, this often lead to two secnarios in financial market. Firstly, the momentum can be slow down and the market can change the direction. Secondly, the momentum can be slow down and the market can continue to its direction. First scenario is often used to trade the reversal pattern or reversal chart pattern. Second scenario is often used to trade the continuation pattern or continuation chart pattern. Regardless of which scenario we are dealing with, excessive momentum detection can help us to place accurate entry for our trading and investment. In fact, this idea is very similar to the Accumulation or Distribution area in the Volume Spread Analysis or Wyckoff Method. Hence, the disclipline of Volume Spread Analysis or Wyckoff Method can be used when you trade with Excessive momentum.

Excessive Momentum Indicator is really an advanced tool to spot an important turning point and breakout level. It is fully automatic to detect these price levels. You will get notified.

When the zigzag lines are present in chart, it may be too messy. But you can simple turn it off from your chart by Setting ZigZagLineWidth = 0.

That is it. Now you can recognize the price level much easier. Follow the instruction from the screenshot below.

As you can see, it is really accurately predicting the place for turning point and breakout. When indicator detect Excessive Momentum area, just be ready to trade until then just rest.

Here is the link to Excessive Momentum Indicator.

https://www.mql5.com/en/market/product/30641

https://www.mql5.com/en/market/product/30621

https://algotrading-investment.com/portfolio-item/excessive-momentum-indicator/