If you're diving into the trading world with MetaTrader 5, you've probably come across various indicators that can help enhance your strategy. One such tool is the iAnchMom indicator, a unique oscillator that operates as a color histogram.
Understanding the Calculation
The formula behind the iAnchMom is quite straightforward:
iAnchMom = 100 * ( ( SMA (SMAPeriod, bar ) / SMA ( SMAPeriod, bar ) ) - 1.0 )
This calculation helps you gauge market momentum, which can be a game-changer for your trades.
A Bit of History
This indicator was originally developed in MQL4 and made its debut in the Code Base at mql4.com back on November 2, 2007. It has since evolved, but its core functionality remains invaluable for traders.
Figure 1. The iAnchMom indicator
Whether you're a seasoned trader or just starting, incorporating the iAnchMom into your trading toolkit can provide you with deeper insights into market dynamics. Give it a try and see how it can boost your performance!
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