The Mad Money Indicator signals when there is stronger price movement relative to previous bars. This allows the user to objectively determine current momentum conditions. Since strong momentum is almost always followed by exhaustion and a price pullback, accurately establishing momentum increases our edge.
The Mad Money Indicator has several user-defined parameters, including 3 threshold levels and a look-back periods. These parameters allow the trader to determine different visual cues for increasing and decreasing momentum.
- Add to any chart or time frame
- Prints on the current bar in real time
- DOES NOT repaint several bars after the fact
- Sound Alert
- Freedom to Tune
- User can change shapes, and colors