Corrected Momentum — Signals for MT5

Corrected Momentum refines the classic momentum calculation to reduce bias from raw price scale and noise, giving a truer read of acceleration and cleaner regime changes in MetaTrader 5.

What it shows

• Zero‑line regime: above 0 → bullish acceleration; below 0 → bearish.
• Signal line (if enabled) clarifies turns and pullbacks.
• Color/markers highlight flips, crosses and extremes.

Trade ideas

1. Regime follow: trade in the direction of the corrected momentum while it stays above/below 0.
2. Pullback timing: enter when momentum hooks back with trend after a shallow retrace.
3. Exhaustion: fading momentum after a long run → scale out or tighten stops.
4. (Optional) Divergence: price pushes further but corrected momentum doesn’t — caution, wait for confirmation.

Inputs that matter

• Period — sensitivity of corrected momentum.
• Smoothing — reduces noise, steadies regimes.
• Price source — Close/Typical/Weighted.
• Alerts — zero‑line, crosses, slope flip.
• Colors/widths — fast visual read.

Suggested usage

• M5–M15: intraday reversals and continuations with a HTF filter.
• M30–H4: swing entries on pullbacks.
• Daily+: portfolio regime filter.

Installation (MT5)

1. Open MetaTrader 5 → File → Open Data Folder.
2. Copy corrected-momentum-indicator.ex5 to MQL5/Indicators.
3. Restart MT5 (or refresh Navigator) and attach Corrected Momentum to a chart.
4. Tweak inputs → OK.

FAQ

Does it repaint? No — calculated on closed bars.
Use in EAs? Yes, through iCustom.
Markets? FX, indices, metals, crypto — anything your broker provides.

Disclaimer: Test on a demo account first. No indicator guarantees profits; risk management is essential.