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Momentum Indicator
Definition
The Momentum Indicator tracks the speed of price changes over a specific period. It's a straightforward calculation: take the current price and subtract the price from a set number of periods ago. Unlike the Price Rate of Change, which shows the percentage change, the Momentum Indicator gives you the actual numerical change in price.
Suggested Trading Use
You can use the Momentum Indicator to spot potential trend reversals or the continuation of current trends. If the indicator is rising, it typically means the asset is gaining strength and you might consider buying. Conversely, if it's falling, the asset is likely losing steam and you might think about selling.
Use this study to identify potential entry and exit points based on the speed of price changes, but always remember to consult other studies and tools for confirmation.