The Momentum Percent Indicator is designed to offer a way of assessing the rate of change in an asset's price. The indicator can help in examining the strength of a potential trend or the possibility for reversals.
Momentum Percent: This line calculates the rate of change in the asset's price and can offer insights into the asset's current momentum.
Medium Line: This line serves as a reference point, making it potentially easier to interpret the Momentum Percent line.
Parameters:
Price: The price parameter offers options such as Close, High, Low, Open, Volume, or VWAP. The default setting is 'Close', which serves as the basis for the Momentum Percent calculation.
Length: The Length parameter, initially set to 12, defines the number of periods used in the calculation. Modifying the length can influence the sensitivity of the Momentum Percent line.
Momentum Percent Indicator subgraph on chart
*Please note that these observations are for informational purposes and should not be construed as financial advice.