Momentum

Author: Optuma Team Last updated: Jul 25, 2020 05:20
Included in Trader Services Included in Professional Services Included in Enterprise Services

Overview

The Momentum tool measures the price momentum of a security. High values indicate that the security is rapidly increasing in price, low values indicate the price is rapidly falling.

Calculation

The Momentum indicator is calculated by subtracting the closing price n bars ago from today’s price. The value is then displayed as a percentage.

((Today's Close - Close n bars ago)/Close n bars ago) x 100

MASMOM Large
To add the tool to your chart, select the tool from the Price tool group, and left-click on the chart to add the tool. Optuma will then draw the tool in a window below the chart using the default settings.

Scripting Function: MOMENTUM()

Actions & Properties

Actions

Actions

Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.

Add to Toolbar: Adds the selected tool to your custom toolbar.

Apply Settings to All: When multiple Momentum tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Momentum tools in the chart, page or entire workbook to be updated instantly.

Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.

Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.

Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.

Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.

Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Momentum to a chart, the tool will display using the new settings.

Delete: Deletes the tool from the chart.

Properties

Properties

Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.

Type: Gives you the option to select between the Momentum tool displayed as a value, or a percentage.

Bars: Allows you to increase or decrease the number of bars that are used in the calculation.

Plot Style: This option expands to display the following:

  • Plot Style - Allows you to change how the tool is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
  • Line Style - The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
  • Line Width - Allows you to adjust the width of the line. Moving the slider bar to the right increases the thickness of the line.
  • Line Colour - Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
  • Fill Up / Down Barrier - When the Plot Style is set to Shaded you are able to adjust the barrier value, the default value is 0.00.
  • Fill Up Colour - When the Plot Style is set to Shaded you are then able to alter the Fill Colour for the tool.
  • Fill Down Colour - When the Plot Style is set to Shaded you are then able to alter the Fill Colour for the tool.
  • Transparency - When the Plot Style is changed to Shaded, you then are able to adjust the shading transparency. Moving the slider to the left will increase the transparency.

Zero Line Style: This option expands to display the following:

  • Line Width - Allows you to adjust the width of the line. Moving the slider bar to the right increases the thickness of the line.
  • Line Colour - Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
  • Transparency - Adjusts the transparency of the Zero line. Moving the slider to the left will increase the transparency.
  • Visible - Un-tick this checkbox to hide the Zero line from the chart.

Offset: This provides the option to offset the Momentum from the chart, to adjust the offset value use the blue up and down arrows.

Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.

Visible: Un-tick this checkbox to hide the tool from the chart.

Show in Price Scale: When selected the current Momentum value will be displayed in the Price Scale.

Discussion