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Momentum BB Lines
This is the conversion of the NinjaTrader 7 "Momentum BB Lines" indicator to MultiCharts.
According to FatTails, the developer of the NinjaTrader indicator:
Quoting
The Momentum BB Lines is an indicator, which is similar to the MACD BB Lines. However, it is not based on the MACD, but on a smoothed, balanced momentum.
The balanced momentum is obtained, when the input value one period ago is replaced with a triangular momentum. This avoids that wide ranging bars which drop out of the momentum calculation have an impact on the momentum line.
The balanced momentum is exponentially smoothed with a selectable smoothing period. The BB Lines are Bollinger Bands, which use the same period for the standard deviation as is used for the balanced momentum before smoothing. The Bollinger Bands are applied to the smoothed momentum.
Different colors can be selected for a rising and falling smoothed momentum and for dots outside and inside the Bollinger Bands.
Since the Momentum BB Lines indicator uses multiple colors, I've chosen to hard code these in the indicator to prevent cluttering of the MultiCharts status line. Changing the code to different colors is quite easy, and
here
you can find a list of RGB colors to use.
This indicator also includes the
Momentum Modified
indicator that was included in the original NinjaTrader indicator.
If you like this indicator, please go over to
this page
and give the original author of this indicator (FatTails) a thanks.
Category
MultiCharts
Details:
Momentum BB Lines
Category:
MultiCharts
February 7th, 2012
Size: 12.21 KB
Downloaded: 515 times
Keywords:
bollinger
momentum
oscillator
1116
Jura
View Download Details
October 25th, 2016 10:41 PM
hobbys11
thanks
March 10th, 2013 06:04 AM
syunwang
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