Momentum Reversal Detector Indicator for MT4 Download - Free

The Momentum Reversal Detector indicator is an indicator in MetaTrader 4 that identifies trend reversal points. This indicator analyzes price movement (Momentum) to predict potential trend changes using a black histogram and provides entry and exit signals at critical pivot points for traders. If there is positive momentum in a higher timeframe, the background color turns light green, indicating Up Divergence at the end of an uptrend in purple and Down Divergence at the end of a downtrend in green.

Indicator Table

Uptrend Signals

The image below refers to the EUR/USD currency pair chart with the symbol (EURUSD) in the 1-hour timeframe. The indicator issues an uptrend signal after a downtrend with a black histogram in the positive phase of the oscillator. It creates a light green background to indicate aligned momentum in the higher timeframe. Under these conditions, traders can look for a suitable trigger to confirm their strategy for entering buy trades.

Downtrend Signals

The image below refers to the USD/CHF currency pair chart with the symbol (USDCHF) in the 30-minute timeframe. The indicator issues a downtrend signal after an uptrend with a black histogram in the negative phase of the oscillator. It creates a light green background to indicate aligned momentum in the higher timeframe. Under these conditions, traders can look for a suitable trigger to confirm their strategy for entering sell trades.

Indicator Settings

• Num bars: The number of bars for indicator calculations is set to 1000;
• Momentum Period: The momentum period for the indicator is set to 34;
• Momentum: The computational momentum of the indicator is set to 125;
• Show Different Background: Select the true option to show a different background;
• Positive Background Color: Light green color for the positive momentum background;
• Show Divergence_Background: Select the true option to show divergences;
• UP_Divergence Color: Purple color for the background of up divergences;
• DOWN Divergence_Color: Green color for the background of down divergences;

Conclusion

The Momentum Reversal Detector indicator, by analyzing price movements and identifying trend reversal points, provides a powerful tool for traders in financial markets. With its specific features, such as no repainting and compatibility with various timeframes, it can help improve the accuracy and efficiency of trading strategies. Using this indicator, traders can obtain suitable confirmations for the trend direction.