Package:  Progster's MomoAtTimePctl Indicator

The MomoAtTimePctl indicator allows you to judge "strong" and "weak" momentum in an adaptive way, as well as to isolate the display to a specific time, if desired.

Sure, a simple momentum indicator can tell you how many points your symbol has moved in a specific period of time, but without further analysis, you don't really know the relative strength/weakness of that motion in context.

This indicator gives you that context, in terms of percentile rankings of the current momentum value as compared with all the other momentum values observed over your lookback period. 

What It Looks Like

What You Get

A .ELD file containing the MomoAtTimePctl indicator (full source code).

A demo workspace containing a preconfigured Chart and RadarScreen (same as shown above).

Customer Support as needed to get it all running.

What It Does

This indicator ranks all the momentum values observed over a lookback period of any length, with 0 being the very lowest (i.e. most negative) observed momentum, and 1 being the very highest (i.e. most positive) observed momentum and then evaluates the position of the current momentum relative to this list.

This indicator is particularly helpful in visualizing the entry points of Progster's Dual Momentum Percentile strategy. 

How It Works

This indicator provides historical or real-time percentile ranking using the supplied custom function .  This function, PercentileThisVal.p3(),  takes advantage of ADE technology to perform a very fast (fast enough for real-time) percentile ranking of the momentum.

The indicator then plots the percentile ranking of momentum using the advanced Gradient Color capabilities of TradeStation 8.1.

The number of observations (lookback period) used for the percentile ranking is specified by the user, so that you may choose to rank over relatively recent observations only, or over a large number of historical observations deeper back into time.

Requirements

This indicator requires TradeStation 8.1 Build 3006 or later.

What It Costs

$150 puts you in the momo know-know!

How You Get It

This package will be emailed to you after your PayPal payment is processed. Please be aware of the caveats before you order.