Trend Line Momentum indicator

Fast Trend Line Momentum - this figure is similar to the standard Momentum oscillator that determines the trade trend, but uses a smoothed trend line instead of usual closing price to calculate. Thus, the curve of the indicator has a sleek look and is suits better for predicting price movements.

Lines:

Blue histogram - Slow Trend Line Momentum

Orange line – Fast Trend Line Momentum

Like any other indicator, Momentum requires prior study and practice for optimal results. In addition, its simplicity has a downside - receipt of indicator's information is not enough to build a complete picture of price movements. Therefore, the analysis of experienced traders always combines a number of different indicators and additions to them.