Peak Momentum (PM)
Draws a double exponential moving average (DEMA) of the close and marks every local peak and trough of that line.
What you see
- A line in Line Color: the double exponential moving average (DEMA) of the close, the same line as Double EMA Peak.
- Yellow dots on every local peak of the line.
- Red dots on every local trough of the line.
Unlike Double EMA Peak, no sequence filter is applied: every turning point of the smoothed price is marked. The dot colors are fixed.
How to read it
A peak is a DEMA value at least as high as the values in a short window around it, a trough the mirror case. Range sets how far back that window reaches; it also includes the next candle, so a dot appears one candle after the turning point and the latest value never carries one.
Many dots close together show choppy, sideways price; long stretches without dots show a steady move. Peaks and troughs stepping higher outline an uptrend of the smoothed price, stepping lower a downtrend. Despite the name, the indicator does not compute a separate momentum value.
Using it in strategies
The output value is the DEMA line; the dots are not available as outputs. Use it in the Trade Setup like a moving average, for example as a trend filter (close above the line) or as an exit when the close crosses back through it. In WickScript: use indicator "Peak Momentum" with period 9 as pm, then pm.value.
Settings
Open the settings with the slider icon next to the indicator (Indicators, F3). Numeric settings can be swept as Step 1 / Step 2 parameters when you run a strategy.
Inputs
| Setting | Type | Default | Description |
|---|---|---|---|
| Period | Number | 9 | Length of the two EMAs that make up the DEMA. Larger values give a smoother line with fewer turning points. (min 1) |
| Range | Number | 2 | How many earlier values a point is compared with. Larger values mark fewer, more significant peaks and troughs. (min 1) |
Styles
| Setting | Type | Default | Description |
|---|---|---|---|
| Line Color | Color | #64fbcf |
Outputs
These values can be used in Trade Setup triggers, filters and exits (see Trade Setup) and in WickScript.
| Output | In WickScript | Description |
|---|---|---|
| value | value | The DEMA of the close. |
Use in WickScript
use indicator creates this indicator inside a script, with settings by their ID. Each output is a field of the name after as. See WickScript indicators.
wickscript 1
indicator "Peak Momentum (PM) from the list" on chart
use indicator "PM" with period 9 as myPm
show myPm.value as line "value"