As all research on the momentum strategies are focused on the indicator, i.e. the entry point, there seems not much discussion on its expected return? Though there are some discussions on the exit rules, it still doesn't clearly quantify the expected profit in advance. Not like a mean-reversion strategy, where its expected profit is clearly pre-determined: abs(entry price - mean). This caused a problem to me in the MV optimization framework, which requires input of expected return in advance.
What is the expected return I should use for the momentum strategy in MV optimization framework? Is there any classic reference for my question?