Momentum (Indicator)
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VIDEO - Momentum IndicatorInput Information
| Name | Expression | Default | Description |
| Price | Numeric | Close | Price used in calculating Momentum. |
| Length | Numeric | 12 | Number of bars to consider for Momentum calculation. |
Market Synopsis
The Momentum indicator calculates and plots the net change, expressed in points, between each bar's price, as specified by the input Price, and that price the number of bars ago specified in the input Length. The default settings calculate and plot the net change between the close of a bar and the close ten bars earlier. Measuring current prices versus earlier prices sheds light on the pace of a trend and possible trend reversals. It may also be useful in identifying overbought and oversold conditions when the Momentum becomes extremely strong or weak.
Plot Information
| Number | Name | Default Color | Description |
| Plot1 | Momentum | Yellow/Red | Plots the Momentum as a line. |
| Plot2 | ZeroLine | Dark Green | Plots a reference line at zero. |
When applied to a chart, this indicator displays two plots in a separate subgraph from the price data.
Set either UpColor and/or DnColor to -1 to disable gradient plot coloring. When disabled, Plot1 color is determined by settings in indicator properties dialog box. Plot2 (ZeroLine) color always comes from indicator properties dialog box.