The Momentum indicator compares the position of the current price to where the price was previously. The indicator line is shown and oscillates around 100.
They say it’s a bullish signal when the indicator goes over 100, and bearish signal when it falls under 100.
Overbought and oversold conditions are about to occur when the curve reaches maximum or minimum values.
Momentum Indicator Calculation
Momentum = ( Close Today– Close x Days ago )