The momentum of a price is very easy to calculate.
The momentum (M) is a comparison between the current closing price (CP) and a closing price “n” periods ago (CPn).
You determine the value of “n.”M = CP – CPn
The Momentum indicator isn’t going to provide much information beyond what can be seen just by looking at the price chart itself.
If the price is moving aggressively higher, this will be visible on the price chart as well as on the Momentum indicator.
The Momentum indicator can be used to provide trade signals, but it is better used to help forex traders confirm the validity of trades based on price action such as breakouts or pullbacks.