Measuring Short-Term Price Momentum with MT5 Tick Data
Summary
This document describes an MT5 indicator that measures price change over a user-defined number of seconds and displays the result in points and percentage. It uses tick history, so the described tool is limited to MT5. The displayed value can be based on bid, ask, or midpoint prices, and calculations can be discarded when the underlying ticks are too old.
The indicator can alert when either momentum measure crosses a configured threshold. Alert modes range from no alerts to repeated notifications on each qualifying tick, with options for one alert per breach or a timed pause between alerts. The document also lists settings for popup, email, and push notifications, plus display color, position, and font. It explains possible uses for spotting rapid price moves when considering entries or exits, but provides no performance evidence or trading rules. A threshold alert identifies movement; it does not establish that the move will continue or prescribe risk controls.
Key ideas
- The indicator calculates price change over a configurable interval using MT5 tick history.
- Users can select bid, ask, or midpoint prices and express momentum in points and percentage.
- Alerts can be configured separately for threshold breaches and can repeat at different rates.
- The display reports rapid movement but does not provide a tested entry or exit strategy.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.