Osi Cycle-Adaptive Momentum
This indicator is based on the calculation for momentum, but the calculation period, used on each bar is, by default, half the period of the dominant wave as measured on that bar; what is putatively, the correct period to use for the momentum. The user may elect to use the full period of the dominant wave instead of the half-period.
The user may also elect to use a fixed period, in which case it is no different from the standard Momentum indicator.
This indicator is used in the same manner as the standard Momentum indicator. The real advantage is that the period of calculation is adjusted, depending on the market's dominant cycle. An internet search will show the many ways in which the Momentum is used, whether as an overbought/oversold oscillator, or as a divergence trading tool.
Momentum is often traded on trend line breaks of the momentum plot. Print out the chart, draw the trend lines, and see how well they match up to providing trading signals. By using a variable period, we can always be sure that we are drawing the momentum in the most timely fashion.
The calculation period, and the method (in this case, "Cycle"), are indicated by the information panel at the bottom. The parameter choice is part of the chart label in the upper text; in this case "HalfWave".