Momentum up event
How far price rose over the last N bars, drawn only while that rise is above the threshold; blank otherwise.
It divides the close by the close period bars earlier and subtracts one, giving the fractional change over that span: 0.002 means up 0.2%. It keeps that value only where it is above thresh (default 0) and leaves the bar blank otherwise. Despite the name 'event', it draws no 0/1 markers and is not a buy or sell signal; it is a numeric line with gaps.
How to read it
- The line sits in its own pane below the price, in fractions: 0.001 is a 0.1% rise over the period.
- Gaps mean price did not rise over the period past thresh; at defaults about half the bars are gaps on SPY one-minute bars.
- Taller peaks mean a bigger rise over the period; at defaults the highest reached about 0.5% in September 2026 on SPY.
- Read it as how strong the current up-move is, not as a buy signal on its own.
What it outputs
- Momentum above thresh
- Close divided by the close period bars earlier, minus one, kept only while above thresh. A fraction, so 0.001 is a 0.1% rise. Blank where price is not above that level.
Settings
- period
- Bars back to measure the change against. Shorter (1 to 3) reacts to the last few minutes and flickers between gaps and values. Longer (60 and up) measures a bigger move that changes more slowly, with larger typical values.
- thresh
- The rise needed before a value shows. At 0 any up-move shows. Raising it (0.001 is a 0.1% rise) blanks smaller moves, so the line shows less often. Below 0 small declines show as negative values, and the line shows on most bars.
Pitfalls
- Named as an event, but it draws no markers and is not a buy signal. It is a numeric line that is blank when price is not above thresh.
- A gap means price did not rise over the period; it is not a zero reading, so blank bars are not flat bars.
- Values are fractions, not percent. At defaults the peak was about 0.005 (0.5%) on SPY one-minute bars, so read the axis as fractions.