Momentum Tracker

11 Nov 2024

To screen for momentum movers, one can filter for stocks that have made a noticeable move over a set period—this initial move defines the momentum or swing move. From this list of candidates, we can create a watchlist by selecting those showing a momentum pause, such as a pullback or consolidation, which later could set up for a continuation.

This Momentum Tracker Indicator serves as a study tool to visualize when stocks historically met these momentum conditions. It marks on the chart where a stock would have appeared on the screener, allowing us to review past momentum patterns and screener requirements.

Indicator Calculation

• Bullish Momentum: Price is above the lowest point within the lookback period by the specified threshold percentage.
  
  
• Bearish Momentum: Price is below the highest point within the lookback period by the specified threshold percentage.
  

The tool is customizable in terms of lookback period and percentage threshold to accommodate different trading styles and timeframes, allowing us to set criteria that align with specific hold times and momentum requirements.

28 Nov 2024

Nota Keluaran

The updated indicator replaces the previous version and is designed specifically to calculate bullish momentum, includes two methods:

Absolute Momentum: Measures the percentage change in price over a defined period by comparing the current price to the lowest price within the lookback period.

(Current Price - Lowest Price in Lookback Period) / Lowest Price in Lookback Period ≥ Threshold

Relative Momentum: Evaluates short-term trends relative to longer-term trends using the ratio of two moving averages, capturing changes in acceleration.

Fast Moving Average / Slow Moving Average ≥ Ratio

Both methods can be fully customized in the indicator settings to fit your specific needs.