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"Better Momentum Indicator" for NT7
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"Better Momentum Indicator" for NT7

  #1 (permalink)
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"Better Momentum Indicator" for NT7

Does anyone know if there is a version of Emini-Watch's Better Momentum Indicator for NT7? Thanks

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  #2 (permalink)
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  #3 (permalink)
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In August, Barry wrote to me that he had a working version of Better Momentum for Ninja7, but I have not seen a release as of yet.

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  #4 (permalink)
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Better than Better Momentum

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.

Attached Files
Register to download File Type: cs MomentumOfCumulativeDelta.cs (8.3 KB, 1294 views)

Last edited by Zondor; November 7th, 2010 at 02:29 AM.
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  #5 (permalink)
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GomCD

Zondor,
Thanks so much for the response. Unfortunately I'm not familiar with the GomCD and how to put all of this together.
Would it be possible for you to give me perhaps a step-by-step of how to make this work?
Many, many thanks,
Mike

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  #6 (permalink)
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Answer
This post has been selected as an answer to the original posters question Answer

This is all Elite Only:

Help for the GOM package can be found here.

Here is a post that explains setting a folder for Gom Data.

You can run Replay to create the GOM data. It takes some work.

@sam028 and @timmyb have come up with better methods.

R.I.P. Andy Zektzer (ZTR), 1960-2010.
Please visit this thread for more information.
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  #7 (permalink)
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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.

Richard how does this compare to using RSX of GomCD....? have u compared them both?

GT
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  #8 (permalink)
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Better Momentum vs RSX of GomCD

I don't know which is better,.

RSX is good because of its sharp turning points.

Both are probably helpful in a mulit timeframe trading strategy.

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  #9 (permalink)
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crimmins View Post
Does anyone know if there is a version of Emini-Watch's Better Momentum Indicator for NT7? Thanks

Barry Taylor at emini-watch.com just made Better Momentum for NinjaTrader 7 available.

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  #10 (permalink)
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gtradz View Post
Barry Taylor at emini-watch.com just made Better Momentum for NinjaTrader 7 available.

For some reason I read 'available' as 'available free'. Wishful thinking. They want $167 for it.

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