Momentum Stop Indicator

April 12th, 2010, 12:23 PM

Here is a momentum stop indicator, momentum because it has nothing to do with volume it is based on price action only. I wrote it for 5m ES chart I have no idea if it work on any other time frame/chart style. Please take time to watch it in action as it is very simple to understand maybe too simple for some folks. The template is for 24hr chart because I collect data to plot overnight H/L using BTOpenRange. If you don't care for overnight H/L then there is no need for 24hr chart. I attatch all indicators to be used in this template.

download momstop here

Download: VolStop and MomStop for NT7

NT7 Zip for both indicators VolStop and MomStop.

cory

April 12th, 2010, 08:20 PM

does not import to NT7

April 12th, 2010, 08:29 PM

sorry I am still on NT 6.5, try copy cs file into nt7 indicator an compile it from there, it only uses h/l/c value and draw triangle command I think it should pass nt7 syntax.

April 13th, 2010, 09:23 AM

neither will compile here is the grid error.

no overload for method "drawline" takes "8" argument. line 91 and 92 of or15.cs

April 13th, 2010, 01:22 PM

I see, I just mean the momstop may not having probl with NT7 but the rest of indicators may, due to incompatible ploting syntax.

April 13th, 2010, 02:24 PM

most likely just the autoScale property that they added for all Draw methods...

April 15th, 2010, 11:09 AM

I am done with my tax so it's time for the upgrade here is MomStopV2

improvements are;

-add more reversals

- add option to filter out bad signals using bar range

- add trade entry buy/sell line so that you can track the entry point visually

here is how it looks with the new indicator
and how it looks with the new OR15

April 15th, 2010, 01:04 PM

cory

I see, I just mean the momstop may not having probl with NT7 but the rest of indicators may, due to incompatible ploting syntax.

Here a the solution to running in NT7

Code in current indicator:

Code

                    DrawLine("L1"+id,StartBar,h,EndBar,h,colorRL,DashStyle.Solid,lw);
                    DrawLine("L2"+id,StartBar,l,EndBar,l,colorRL,DashStyle.Solid,lw);

Code change to:
ADD the true, to the code

Code

                    DrawLine("L1"+id,true,StartBar,h,EndBar,h,colorRL,DashStyle.Solid,lw);
                    DrawLine("L2"+id,true,StartBar,l,EndBar,l,colorRL,DashStyle.Solid,lw);

Thanks for the kewl indicator Cory

Scotte

April 15th, 2010, 03:47 PM

patience is a virtue, outlast the chop

Momentum Stop Indicator

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Momentum Stop Indicator