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Momentum BB Lines

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The Momentum BB Lines is an indicator, which is similar to the MACD BB Lines. However, it is not based on the MACD, but on a smoothed, balanced momentum.

The balanced momentum is obtained, when the input value one period ago is replaced with a triangular moving average. This avoids that wide ranging bars which drop out of the momentum calculation have an impact on the momentum line.

The balanced momentum is exponentially smoothed with a selectable smoothing period. The BB Lines are Bollinger Bands, which use the same period for the standard deviation as is used for the balanced momentum before smoothing. The Bollinger Bands are applied to the smoothed momentum.

Different colors can be selected for a rising and falling smoothed momentum and for dots outside and inside the Bollinger Bands.

The indicator has an option to plot paint bars showing whether the smoothed momentum is sloping up or down and whether it is outside or inside the Bollinger Bands.

Category NinjaTrader 7 Indicators

Details: Momentum BB Lines
Category: NinjaTrader 7 Indicators

February 6th, 2012
Size: 10.67 KB
Downloaded: 1687 times

Keywords: bband bollinger momentum momentumbblines triangular

Comments/ratings

Tiberius February 6th, 2012 10:22 PM

Thanks, nice work .

Trafford February 7th, 2012 06:11 AM

Many Thanks FT

peakskill February 7th, 2012 07:51 AM

Very nice indicator. Of course! Thank you.

vikstock February 7th, 2012 04:56 PM

No Comment

jtrade March 11th, 2012 01:08 PM

Splendid work - thank-you, FT.

Ron Schnee April 19th, 2012 11:11 PM

I am not giving this back. No way. Thanks again.

Bobi March 20th, 2013 04:36 PM

Thank you.

charttrader October 13th, 2014 10:47 AM

Catches price changes nicely.

Thanks.

thadolius March 17th, 2015 09:59 PM

Works very well.

no3putts February 17th, 2016 06:26 AM

Perfect! Thank you.

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