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I know the classical definition of Momentum as calculating the spread
of the current price and the price length intervals.
A line of Momentum calculations indicates if prices are changing at
an increasing or decreasing rate. Crossing the zero line indicates a
change in trend.
That being said if one goes to www.barchart.com a Momentum of -0.58%
is seen at the bottom of the page. You will also see the Momentum for
other times of the month.
Can anyone decipher if barchart Momentum is calculated per the above
definitions. I have been using it as a screen to accept or reject
signals given by my system. Reject a long signal if Momentum is
negative and accept it if Momentum is positive. Vice versa the
rejection and acceptance of a short signal. So far the results have
been impressive.
Positive oriented comments sought.
John
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