Momentum Reversal Detector Indicator for MT 5 Download - Free

The Momentum Reversal Detector indicator is one of the oscillators in MetaTrader 5 that, with the help of the CCI indicator and MACD histograms, measures the price momentum and predicts trend reversal points. This oscillator shows the points of change from an uptrend to a downtrend and vice versa with a black histogram. It can also detect the momentum of a higher timeframe and, by changing the indicator's background color to light green, confirms the correct direction of the trend.

Indicator Table

Uptrend Signals

The image below refers to the Dow Jones index chart with the symbol (US30) in the 1-hour timeframe. At the end of a bearish price correction, the indicator's black histogram and the oscillator background are shown in green to be aligned with the momentum of a higher timeframe. Under these conditions, traders can enter Buy Positions using their strategy patterns.

Downtrend Signals

The image below refers to the NASDAQ index chart with the symbol (NAS100) in the 1-hour timeframe. At the end of a bullish price movement, the indicator's black histogram in the negative phase of the oscillator and the oscillator background are shown in green to be aligned with the momentum of a higher timeframe. Under these conditions, traders can enter Sell Positions using their strategy patterns.

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 can support various trading strategies when combined with other technical analysis tools like RSI, MACD, and Moving Averages. This indicator is particularly suitable for traders looking for precise Entry-Exit points in short-term and medium-term timeframes.