Momentum Pinball

Momentum Pinball

Based on a classical RSI formula, this indicator use the intraday price changed difference from the previous day, instead of the close.

It results a fast and accurate view of price acceleration (great momentum) of the current daily candlestick compared to analysed periods (14 periods in the code example).

I marked examples of how to interpret the indicator on the above screenshot. When the oscillator value exceed the 60 level area, it should warn you of a large bullish pressure, and a bearish one when its below the 40 level.

 

 

Share this

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

New! PRC is also now on YouTube, subscribe to our channel for exclusive content and tutorials

  1. Bon Zo • 266 days ago #

    Your trading indicators are awesomes.

    • Nicolas • 266 days ago #

      Thanks a lot Bon Zo. Spread the news everywhere you go 🙂

  2. Bon Zo • 265 days ago #

    i don’t really want to tell others my secret but maybe i could share this page on my facebook account. 

  3. Renato Di Lorenzo • 263 days ago #

    Hi Nicolas; what is Dclose?

    • Nicolas • 263 days ago #

      It’s the Daily close. Dclose

    • Renato Di Lorenzo • 263 days ago #

      ok, clear; I understand that Dclose(0) is not constant during the current day and is equal to the close of the last intraday bar, while Dclose(1) is obviously constant during the current day. Correct.

      Is there some reason for this choice instead of using a more “normal” sliding close? I think there is.

  4. Nicolas • 263 days ago #

    @Renato

    I have this code in my indicators list since a while and honestly I don’t remember from what I converted it from .. Daily OHLC used in intraday charts also make sense, even if this one is I think much clearer on a Daily one.

  5. Renato Di Lorenzo • 263 days ago #

    Agree; thanks.

  6. rpreviteri • 195 days ago #

    Hi Nicolas, thanks a  loto for sharing your knowliedge, Wasn’t the original momentum pinball  with ROC  rather than exponential average? Best regards 

     

  7. air • 73 days ago #

    Thank you!

     

avatar
Register or

Likes

avatar avatar avatar avatar avatar avatar
Related users ' posts
Nicolas Hi Maz, it's always a pleasure to review your post, they are always perfectly well formatted...
Robert Great work! Could be useful :)
Tedvin Nice one, thanks a lot Maz :)
ALE
1 week ago
CSR strategy DAX 1 D
CSR strategy DAX 1 D
12
Strategies
ALE Hello GuysI'm trying to fix a problem that I missed during the probacktest, I update you as ...
Nicolas The code has been updated in the attachment of the post with the last version which contain ...
ALE Thanks as always Nicolas
Maz
1 week ago
Francesco78 very nice, thanks!
Elsborgtrading Thanks for this MAZ:-) I will also try and implement it in manual trading. I changed the v...
ALE Thanks! excellent
larmhen
3 weeks ago
Bard p.s. It worked fine yesterday. I've just opened up another template that I have, which also ...
Nicolas You certainly changed the code of the indicator and made a typo somewhere. Please redownload...
Bard I haven't changed the code related to the parts mentioned above. The only modification was m...
Swingforfortune
4 weeks ago
gatarayihajp Hi swingforfortune, Thanks a lot about your interesting posting. Let ask you to explain mor...
Swingforfortune Hello. Basically they are a twist of the MACD histogram and can be used as such. They visua...
gatarayihajp Hi again Thanks for the explanation. Have a good day
gabri Excellent job like always!! are you working also on the Barycenter indicator?
Nicolas No but I think you can find a lot of different version of the "center of gravity - COG" indi...
Francesco78 Ciao JR  Francesco here not Ale :)) thanks so much for checking the code, I will have a lo...
JR1976 Ok sorry Francesco :-)  
Francesco78 These are the comparison with my lates version and yours, I think it improves by all the mea...
Francesco78 Thank you Nicolas! Exactly what I was looking for :)  
Andy 22 DRAWSEGMENT(BarBullNew, highest[(BarBullnew-BarBullOld)](close), BarBullNew+10, highest[(...
gabri Ok, I believe your version of PRT doesn't support the command drawsegment. You should check ...
Andy ok thanks!
victormork @GraHal shall we move this to the forum thread advised above?
Maz Thanks guys. Please see forum post for more details. I encourage you guys to play / pull it ...
Pierluigi Cavagnoli It works well even short on EUR/USD 15 min. I did this way: maLong / maShort instead of maSh...
Nicolas Another fine piece of code gabri! Excellent work again. Thanks a lot for your precious contr...
gabri Thanks Nicolas!!
bolsatrilera bravo, molto intelligente.
gabri
2 months ago
Marcel Thank you for this one. I played around with this indicator with Bollinger Bands around it i...
owes29 Do a Youtube search for "Revolutionary Indicators Reveal Tops & Bottoms" it explains a v...
owes29 Hi is there anyway to develop this for the pro scanner on daily or hourly scans. so it woul...
Nicolas Of course, please add a query in the proscreener forum.
gregus bonjour a tous quelqu un pourait il recodé en prt il sagit  du dynamique zone ma, je n arri...
Nicolas Merci de faire une requête spécifique sur le forum. 

Top