Momentum Indicator Settings for MT4: 0 of 40 Made Money on EURUSD, and on Gold M5 Only the Default 14 Did

The full test of the indicator is in Momentum indicator tested: 1 of 16 default runs passed, and the line never reached 101 or 99 on EURUSD. This page is the practical part: how to set Momentum up in MT4 and whether a different period changed the result.

How do I add Momentum to MT4?

1. In MT4, open Insert, Indicators, Oscillators, Momentum. Or find it in the Navigator window under Indicators, Oscillators, and drag it onto the chart.
2. In the Parameters tab, set the Period (14 by default) and Apply to (Close by default).
3. In the Levels tab, add 100. That is the centre line; MT4 does not draw it for you.
4. Save the chart as a template (right-click the chart, Template, Save Template) if you use it on many charts.

MT5 has the same indicator in the same menu with the same inputs. If your MT4 is still empty, the setup from scratch is in MT4 first chart setup.

How do I add a signal line to Momentum?

1. Drag Moving Average from the Navigator into the Momentum window, not onto the price chart.
2. Set Period to 9, Method to Simple, and in Apply to choose “Previous Indicator’s Data”.
3. Pick a colour that stands apart from the Momentum line and press OK.

The average now follows the Momentum line instead of the price. A cross of the two is the “signal9” rule in the tables below.

What levels should I add?

Only 100 is the same everywhere. If you want levels for extremes, take them from your own chart: on EURUSD M5 something like 100.2 and 99.8, on gold M15 nearer 101.5 and 98.5. Levels such as 101 and 99 were never touched on either EURUSD chart in three months.

How was it tested?

• Data: EURUSD M5, 16,926 bars from June 3 to August 26, 2026; gold M5, 13,736 bars from June 16; M15 built from the same bars.
• Settings: Momentum = Close / Close n bars ago × 100, with n = 3, 5, 7, 10, 14, 20, 28, 40, 55, 89. Two signals: Momentum crosses 100, and Momentum crosses its 9-bar simple average.
• Exit: stop 1.5 ATR, target 3 ATR, 48 bars, one trade at a time. Cost 1 pip on EURUSD and $0.30 an ounce on gold, as in spread and swap costs in MT4.
• Halves: before and after July 15, 2026, to see whether a setting that won early kept winning.

How many Momentum settings made money?

Pips a trade on EURUSD, dollars an ounce on gold, after cost. On EURUSD a few settings made money before the spread: the fast signal-line versions 3, 5 and 7 on M5 made +0.15 to +0.23 pips a trade, and the slow 100 crosses 28 and 40 on M15 made +0.84 to +0.97. Not one of them covered a 1-pip spread.

Was the default 14 on gold M5 a real edge?

A real edge in a period should fade gently as you move away from it. Here the one winner sat between two losers, with a swing of $1.63 a trade from period 10 to 14. That is what a lucky cell looks like, and the reason optimized vs default settings warns against trusting a single best number. The default happened to be the lucky one this time.

Did the best first-half period keep winning?

On EURUSD M5 the first-half winner was also best later, but best still meant losing 0.56 pips a trade. On gold M5 the first-half winner, period 3, went from +$1.03 to -$0.93 and fell to 17th. On gold M15 the best early setting had only 20 trades in the first half, too few to trust. The same out-of-sample check for expert advisors is in EA optimization in and out of sample.

Which Momentum settings would I use?

• Keep 14 and Close. The best period was different on three of the four charts, and no period fixed EURUSD.
• Add 100 as a level, and measure any other levels on your own chart. Fixed 101 and 99 do nothing on EURUSD.
• Prefer slower periods on EURUSD if you trade the cross. The 100 cross with 28 to 89 lost least, because it traded less and paid the spread less often.
• Do not trust a single winning period. On gold M5 the one profitable setting had losing neighbours on both sides. If you also run RSI, read Momentum vs RSI before adding a second oscillator.

Frequently asked questions

What is the best Momentum indicator setting for MT4?

In this test none was reliably profitable. On EURUSD 0 of 40 settings made money after cost. On gold M5 only the default 14 with the 100 cross did, and periods 10 and 20 lost.

Where is the Momentum indicator in MT4?

Insert, Indicators, Oscillators, Momentum, or the same path in the Navigator window. It opens in its own window under the chart with Period 14 and Apply to Close.

How do I add a moving average to the Momentum indicator?

Drag Moving Average into the Momentum window and set Apply to “Previous Indicator’s Data”. A 9-bar simple average is the common choice.

What period should I use for Momentum on the 5-minute chart?

On EURUSD M5 every period from 3 to 89 lost after a 1-pip spread; 89 lost least at -0.21 pips a trade. A shorter period only added trades and costs.