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Miscellaneous > MTD (Momentum of TickDifference)

Article/Author: U.Jensen for Omega Research, 1997

Download: MTD.ela

File Includes: Indicator - MTD (Momentum of TickDifference)

Category: Indicator > Miscellaneous

Description:

This indicator plots the Momentum of Tick Difference. Tick Difference is calculated as the difference between the UpTicks and DnTicks for 3 bars, after which it is smoothed by a 6-period WMA.

Usage:

Note. To use the indicator you will need data containing information on the DnTick и UpTick.




EasyLanguage Code:
VALUE1=WAVERAGE ((UPTICKS-DOWNTICKS),3);

VALUE2 = WAVERAGE(VALUE1,6);
VALUE3 = MOMENTUM(VALUE2,6);

PLOT1(VALUE3,"MTD-6");