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- True Momentum
True Momentum
Understanding True Momentum
What is True Momentum?
True Momentum is a concept in trading that refers to the strength and direction of a price movement. It is often used to identify potential reversal points and breakout opportunities in the market. Unlike traditional momentum indicators, True Momentum aims to filter out noise and provide a clearer picture of the market's underlying strength.Key Features of True Momentum
- Direct measurement from raw price series
- Extended price action and pattern trading
- Detection of market anomalies
- Integration with various technical analysis tools
Input Settings for True Momentum Indicators
- Bars To Scan: Number of candle bars to calculate the indicator
- Momentum Strength Factor: Strength of Excessive Momentum to detect, typically between 0.1 and 0.5
- Equilibrium Fractal Wave Scale: Controls the size of Fractal Wave for detecting excessive momentum
- Graphic settings: Options for chart color and Fibonacci retracement colors
How to Use True Momentum Indicators
- Combine with classic Fibonacci trading setups
- Use as support and resistance levels
- Integrate with oscillators like RSI and CCI for secondary confirmation
- Apply with Harmonic patterns and Elliott Wave patterns
Examples of True Momentum Indicators
Excessive Momentum Indicator
- Developed by Young Ho Seo
- Measures excessive momentum directly from raw price series
- Simple and easy to use, compatible with various technical analysis tools
SmartMass Indicator
- Detects significant market movements with clear intent by bulls or bears
- Provides information about the relationship between volume and price
- Classifies momentums based on amplitude, width, and price effect
Advantages of Using True Momentum
- Simple and easy to use
- Compatible with most known technical analysis tools
- Provides clear signals for potential reversals and breakouts
- Helps in better understanding the balance between volume and price
Conclusion
True Momentum is a powerful concept in trading that helps traders identify significant market movements and potential reversal points. By integrating True Momentum indicators with other technical analysis tools, traders can make more informed and precise trading decisions. Whether you're using the Excessive Momentum Indicator or the SmartMass Indicator, True Momentum provides valuable insights into the market's underlying strength and direction. 🚀📈
True Momentum: The Robin Hood of oscillators or just another part-time magician? Join us as we peel back the layers of this so-called 'momentum indicator' that promises to redefine how we see price movement. From the esoteric theories of digital filtering to user testimonials tha ...
Release Date: 03/02/2023
Is True Momentum the game-changer you've been waiting for? Dive into our in-depth review to uncover the science, user experiences, and comparative analysis of this intriguing momentum indicator. Learn how it stands out in the crowded field of trading tools and what real traders h ...
Release Date: 03/02/2023