The mobo momentum breakout bands indicator has a name longer than its code. What ships is one crimson line. It divides the current close by the close `Period` `18` bars back and scales the answer to a hundred.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Separate window |
| Plots | 1: Momentum |
| Alerts | popup, push notification, email, sound |
| Inputs | 7 |
What the Mobo Momentum Breakout Bands Indicator draws on the chart
A single crimson `Momentum` plot occupies the pane.
There are no band plots in this build, despite the name.
The reading sits above a hundred after a rise and below it after a fall.
No reference levels get declared, so the pane auto-scales.
- Momentum: plot, crimson
How the Mobo Momentum Breakout Bands Indicator calculates its values
The whole calculation
Current close divided by the close eighteen bars earlier, times a hundred. That single line of arithmetic is the entire body of the loop.
Eighteen bars is the choice that matters
`Period` `18` is longer than a typical momentum default. A wider span means fewer, larger swings in the reading and far less reaction to a single candle.
About those missing bands
The original Mobo study wraps a band around a regression line. Nothing of that kind exists here. Load it expecting a momentum ratio and the tool behaves exactly as advertised by its code.
How to read the signals
A hundred is neutral even though no line marks it.
How far the reading sits from a hundred shows the size of the eighteen-bar move.
A slow drift above a hundred means a steady climb rather than a burst.
Read the pane scale, since the values cluster tightly.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
`EnableAlerts` is the umbrella and it arrives true, with `EnablePopup` opening the alert window. `EnablePushNotify` sends to a phone, `EnableEmail` sends mail and `EnableSound` sounds `SoundFile`. Those three start off. One message per closed bar.
Every Mobo Momentum Breakout Bands Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
Period |
Bars between the two closes being compared, default `18`. | 18 |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Umbrella switch over every route, default `true`. | on |
EnablePopup |
Alert window inside MetaTrader, default `true`. | on |
EnablePushNotify |
Send the alert to a phone, default `false`. | off |
EnableEmail |
Send the alert as mail, default `false`. | off |
EnableSound |
Sound the file named below, default `false`. | off |
SoundFile |
Name of that sound file, default `”alert.wav”`. | alert.wav |
Settings that fit your chart
Eighteen bars covers a useful stretch on most charts. EURUSD H1 is the reference chart, where that reaches back most of a day. On M15 it spans four hours. Daily bars turn it into a three-week comparison.
When the Mobo Momentum Breakout Bands Indicator fails
The name promises bands and a breakout rule that the code does not contain.
A ratio near a hundred squeezes the visible range, so the line looks flat.
There is no signal plot, so every rule has to come from you.
Copy the compiled Mobo Momentum Breakout Bands Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Download the Mobo Momentum Breakout Bands Indicator for MT4 and MT5
The zip holds the compiled Mobo Momentum Breakout Bands Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
Download this indicator free
Enter your email and the file is yours. You also get the full MT4 and MT5 library.
FAQ
Does this build draw breakout bands?
No. The file declares one plot, a momentum ratio line, and nothing else. If you came for the banded version of the Mobo study, this is not it, and knowing that up front saves you hunting for a hidden setting.
What does Period 18 span?
The gap between the two closes being compared. Eighteen bars is longer than the usual momentum default, which makes the reading calmer and slower to react to any single candle.
Why does the Momentum line hug one value?
Because a ratio of two nearby closes lands close to a hundred. On a quiet instrument the whole range might sit between 99.5 and 100.5. The pane scale still shows the shape clearly.
Does the Momentum plot compare across symbols?
Yes, and that is the advantage of a ratio. A one percent move reads the same whatever the price level. A version based on subtraction would give figures you could not compare at all.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Mobo Momentum Breakout Bands Indicator as one input. Always backtest before trading live.
Category: this is part of our Oscillators collection. Browse more Oscillators for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- The core method is documented in Moving Momentum at StockCharts ChartSchool.
- Additional market context is at Overnight market on Wikipedia.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.