Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I don't know such an indicator, but coding it wouldn't be too difficult.
I still think that a fast moving average would be much better as input than price itself, you would need to iron out the zig zag a bit...
as i told you i like to do this with the smi_2 indicator here at futures.io (formerly BMT). Bu t i am not able to code so if you like give me a hand please.
You cannot directly compare momentum to the relative change of an indicator value. What can be done is to compare the sign of momentum to the relative change of the indicator value. This concept is well know in technical analysis and called a divergence.
Example: If momentum is up (as detected by a higher high of price) but the RSI decreases (as detected by a lower high), this would be a divergence.
You can use indicators to detect divergences, but you can also detect them by looking at price itself. Typically such a divergence comes as a wedge or a 3-push pattern.