40+ Year Old Momentum Trading Concept Using thinkScript
In 1978, Wilder created a Momentum Concept to help predict when price is likely to start accelerating or decelerating. We'll translate this 40+ year old concept into a ThinkOrSwim indicator and scan, using thinkScript code.
For those interested, here's a link to read the book - New Concepts in Technical Trading Systems (pg. 53): https://books.mec.biz/tmp/books/218XOTBWY3FEW2CT3EVR.PDF
The basis of the momentum concept is tracking a value which Wilder calls the "Momentum Factor." The momentum factor is the difference between the closing price today, compared to the closing price two days ago.
The difference in values there helps to get a quick gauge as to whether or not price is decelerating, compared to where it has been. There are more rules and nuances, which we will discuss in this tutorial.
Here's the final version of the indicator and scan:
https://tosindicators.com/indicators/wilders-momentum-concept
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⏱️ Here are video timestamps that might come in handy:
0:00 - Introduction
1:44 - What is the Momentum Concept and Factor?
6:48 - Building a ThinkOrSwim Indicator
16:36 - Translating the Momentum Concept into a Scan
21:44 - Conclusion
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✅ Download the Futures Volatility Box here:
https://www.tosindicators.com/volatility-box
✅ Download the Stock Volatility Box here:
https://www.volatilitybox.com/product/volatility-box-stock-early-invite/
✅ Watch the new Triple Pro Squeeze course here:
https://www.tosindicators.com/squeeze-course
#thinkScript #MomentumTrading #ThinkOrSwim
Видео 40+ Year Old Momentum Trading Concept Using thinkScript канала TOS Indicators
For those interested, here's a link to read the book - New Concepts in Technical Trading Systems (pg. 53): https://books.mec.biz/tmp/books/218XOTBWY3FEW2CT3EVR.PDF
The basis of the momentum concept is tracking a value which Wilder calls the "Momentum Factor." The momentum factor is the difference between the closing price today, compared to the closing price two days ago.
The difference in values there helps to get a quick gauge as to whether or not price is decelerating, compared to where it has been. There are more rules and nuances, which we will discuss in this tutorial.
Here's the final version of the indicator and scan:
https://tosindicators.com/indicators/wilders-momentum-concept
-----------------------------------------------------------
⏱️ Here are video timestamps that might come in handy:
0:00 - Introduction
1:44 - What is the Momentum Concept and Factor?
6:48 - Building a ThinkOrSwim Indicator
16:36 - Translating the Momentum Concept into a Scan
21:44 - Conclusion
-----------------------------------------------------------
✅ Download the Futures Volatility Box here:
https://www.tosindicators.com/volatility-box
✅ Download the Stock Volatility Box here:
https://www.volatilitybox.com/product/volatility-box-stock-early-invite/
✅ Watch the new Triple Pro Squeeze course here:
https://www.tosindicators.com/squeeze-course
#thinkScript #MomentumTrading #ThinkOrSwim
Видео 40+ Year Old Momentum Trading Concept Using thinkScript канала TOS Indicators
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