This indicator is an example of smoothing the Momentum indicator timeseries by filtering high-order harmonics.
You can use this approach for smoothing the output of any indicator. The major advantage of this method is that it has practically zero latency.
Indicator input parameters:
inputint MomentumPeriod=14;
inputENUM_APPLIED_PRICE MomentumPrice=PRICE_MEDIAN;
inputuint N = 7; // Series lengthinputuint SS = 20; // Smoothing coefficientinputint Shift=0; // Horizontal indicator shift in bars
where:
N — sets the series length (power of two);
SS — smoothing coefficient in the resulting spectrum zeroes out frequencies exceeding the set value. SS cannot be greater than 2^N. If SS = 2^N, the Momentum series is repeated.
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