Let's put two and two together.
Barry says that ".. the traditional Momentum
indicator... has done a great job in the past of measuring the decline in Momentum as the ... move loses power... but has a fatal flaw:--it measures the change in price, not buying or selling volume"
"The Better Momentum Indicator measures these waves of buying and selling volume
...." (hmmm, sounds like it is the Momentum of the buy sell volume, also known as CUMULATIVE DELTA
Sounds to me like applying the Ninjatrader
Momentum indicator to the GomCD would accomplish this.
Not only that, it would do so more accurately than indicators that use upticks/downticks
(instead of the GomRecorder
), to calculate bid
ask volume. Do Barry's indicators use the GomRecorder?
For NT6.5 aficionados, too bad: indicator-on-indicator doesn't work in NT6.5.
But for all NT users including 6.5 reactionaries, there is nothing to stop you from creating a new Momentum indicator within which you instantiate a GomCD, and feed the value of gcd.DeltaClose into the Momentum indicator instead of feeding in Close.
The attached file will not work in NT6.5 because it uses the PlotColors method. True multi-color plotting is not available in NT6.5. Tough.