momentum indicator  study

 
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Futures Charts - Technical Analysis Help

Momentum

The Momentum study is an overbought/oversold oscillator. It is calculated by subtracting the value returned by the parameter PRICE for the current bar from the value returned by the parameter PRICE for the bar that occurred LENGTH bars ago.

If the value for the current bar exceeds that of the bar in the past, the value of the function is positive. If the value for the current bar is less than that of the bar in the past, the value of the function is negative. Therefore, the values returned by the
MOMENTUM function oscillates above and below zero.

If the market has decreased by more than x points, the market is considered to be oversold. If the market has increased by more than x points, the market is considered to be overbought.


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