Momentum Robot - Structure

This free indicator is a companion to the Momentum Robot instrument grader.

Structure puts the fundamentals of momentum trading all in one indicator.


This indicator is intended to be used in momentum trading which makes realistic price targets clear for profit taking. Primarily to be used on the 1m and 10sec. It can actually be used on any timeframe for any style of trading. Below are the details of everything you are seeing in the indicator.

EMA’s:

The exponential moving averages included are the 9 ema, 20 ema and the 200 ema. These are the standard ema’s used in momentum trading. Once price has moved above each of these, it is in a good place to expect more upside.

VWAP:

Volume Weighted Average Price is also included (white) to show the average price based on volume. Once price is above this level, it is considered bullish.


Peak Lines and Breakout targets:

Shown with orange lines, these are the breakout targets where price has had a last rejection. The idea is, when price begins to make a move back to this line, there is a high probability that it will break through this level.


.50 cent lines:

In conjunction with the Peak Lines and Breakout Targets, the .50 cent lines (in gray) give a realistic expectation of where price will gravitate towards. So if the breakout line is .20 cents below a dollar level, there is a high probability that when price breaks the breakout line that it will move to the dollar level. A great spot for profit taking for long traders!

To be used in conjunction with the Volume and MACD indicators.

Enjoy this free indicator. This indicator is extracted from the full version of the Momentum Grader.