Monster Momo is a suite of tools to identify and validate continuation of a strong directional move and signal when that move is ending. The tools can be used on any time frame, from intraday to monthly to help you identify and ride these.
There are 4 tools associated with this toolset:
Momentum Continuation signals
Momentum Reversal signals
Multi-timeframe Momentum Continuation labels
Multi-timeframe Momentum Reversal labels
The aqua blue arrows indicate strong momentum upward for the Momentum Continuation signals. These print below the bars.
The gold arrows indicate strong momentum down for the Momentum Continuation signals. These print above the bars.
Red Arrows print above the bars and indicator a potential reversal in the Momentum Reversal signals
Green Arrows print below the bar and indicate a potential reversal in the Momentum Reversal signals.
Below are all the settings John uses on his standard daily charts.
Momentum Continuation
Above is an example of a daily chart with the Monster Momo tools.
The settings on the daily chart that John uses are shown above. To change any of these for your own preferences, click the gear icon beside the one you want to change and modify the settings.
Momentum Continuation settings in detail:
You can modify the display mode to color the candles, just show the arrows or use both. You can calculate the momentum with or without volume (John uses volume)
and you can change the signal window for how many bars of data to look back. The default is 2 but John uses 5 for his default).
As with all our tools, you can modify the global color values to suite your preferences as well.
Momentum Reversal
Above is an example of a daily chart with the Momentum Reversal signals highlighted.
There is only one settings -- the signal window -- which can be modified for any value. The default is 2. John uses 5 as shown above. It is recommended to set the signal window for both the Momentum Reversal and the Momentum Continuation to the same value.
Settings for the Intra-day charts
John uses a 2-panel chart for intraday. Both panels have both the Momentum Continuation and Momentum Reversal indicators as well as the Multi-TimeFrame Momentum and Reversal labels.
The left side is set to the 2-minute chart. This allows the intraday labels to display data from all the higher time frames he wants to view. The right side is a 15-minute chart to display higher time frames into the daily.
All the settings for each of the label indicators is show below:
2-Minute Chart
MTF-Momentum Continuation settings
MTF-Momentum Reversal Settings
Below are settings for the 15-minute chart:
MTF-Momentum Continuation Settings for the 15-minute chart
MTF- Momentum Reversal settings for the 15-minute chart
With all the indicators, you can customize the colors for your preference in the Globals section of the indicator customization screen. Below is an example of the MTF-Continuation labels. All of these indicators can be customized the same way. NOTE: the label indicators have both the color for the current bar as well as the color for the history (based on the history lookback configured above).
Monster Momentum Scans