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"Better Momentum Indicator" for NT7
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Created: by crimmins Attachments:2

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"Better Momentum Indicator" for NT7

  #21 (permalink)
Elite Member
Florida
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: AMP/CQG
Favorite Futures: Emini S&P 500
 
Posts: 3 since Jul 2009
Thanks: 6 given, 0 received

Updated?


Zondor View Post
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[0].

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.

Zondor,

Have you updated this indicator recently? I would love to test it on Ninja 7.

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