Momentum Index
The credit to this indicator goes to Stan Weinstein, the father of Stage Analysis. By studying his books and methods he has disclosed the exact way of calculating the Momentum Index that is being used by him and his team in order to gauge the market.
PRODUCT INFO
–––––What it does
The indicator falls into the category of technical indicators used by Stan. It calculates an simple moving average based on the difference between the Advancing and Declining issues on various markets.
The settings of the indicator allow to adjust the length of the moving average as well to choose 1 of the 3 markets for which it has been scripted to work: NYSE, NASDAQ or Total US Stocks.
–––––How to use it
The indicator ought to be used on the daily chart
The most important thing to look for is if the indicator is if it is above zero and below zero. A below zero Momentum index is an outright bearish signal and traders should consider stepping out of the market or initiate short positions.
The other things that ought to be considered are the depth and length of the prior to a violating action. In a nutshell the longer, stronger the above zero action the more powerful a below zero cross will be.ACCESS INFO
For Tradingview:
After you have purchased the indicator have to send us your TradingView username in order to get access.
ThinkorSwim (available, but separate):
Please send us an email and if you would like a ThinkorSwim version of this script. ThinkorSwim version is sold separetly from the TradingView version of the script and takes 5 days of delivery.
TradingView Product
Link to TradingView script
DELIVERY
After payment is made, access to the script will be given within 2 hours