A combination of Relative Momentum indicator
and Absolute Momentum Indicator .
Relative Momentum is a measure of relative strength of a script compared to index or other scripts
Absolute momentum is a measure of its own strength compared with its value n periods before...
I use a combination of 2 absolute momentum lines of 10 & 21 ...or 21 & 52 based on my requirement + 1 relative momentum indicator with Nifty index as default comparative symbol.
One example how I use this indicator is
for Intraday ... 2 Absolute mementum indicators of 10 & 21 ... both should be in same direction.. and the closer they are the stronger the signal.
for swing & positional , I include 1 relative momentum along with 2 absolute momentum...
Also ,the strong signal can be validated when the candle is bullish , no near by supply zone or the candle is at demand zone .
Explore the indicator ,its your imagination & innovation.
Often u can even catch the extreme bottom.
Mix this with my Rsi crossover cardwell ranges indicator for best results.
and Absolute Momentum Indicator .
Relative Momentum is a measure of relative strength of a script compared to index or other scripts
Absolute momentum is a measure of its own strength compared with its value n periods before...
I use a combination of 2 absolute momentum lines of 10 & 21 ...or 21 & 52 based on my requirement + 1 relative momentum indicator with Nifty index as default comparative symbol.
One example how I use this indicator is
for Intraday ... 2 Absolute mementum indicators of 10 & 21 ... both should be in same direction.. and the closer they are the stronger the signal.
for swing & positional , I include 1 relative momentum along with 2 absolute momentum...
Also ,the strong signal can be validated when the candle is bullish , no near by supply zone or the candle is at demand zone .
Explore the indicator ,its your imagination & innovation.
Often u can even catch the extreme bottom.
Mix this with my Rsi crossover cardwell ranges indicator for best results.
