Momentum Filter Histogram or Chinkou Filter Histogram
This Momentum is more visual and easy to use than the clasical line Momentum.
- Momentum Histo becomes Green = Buy Signal
Green when the Momentum indicator crosses above the zero line. The crossing of the zero line implies that the price of the stock, future, or currency pair is reversing course, either by having bottomed out or by breaking out above recent highs, a bullish signal.
- Momentum Histo becomes Red = Sell Signal
Red when Momentum indicator crosses below the zero line. A cross of the zero line can generally mean two things: the future, currency pair, or stock's price has topped out and is reversing or that the price has broken below recent lows, either way, a bearish signal.
- Momentum Histo becomes White = Wait Signal
White when Momentum indicator is on the zero line.
- Filter_Period = 1 = Normal Momentum
- Filter_Period > 1 = Filter Momentum (period of moving average)
- Filter_Mode = we can choose four Averages to Filter the momentum