Market Pulse Pro

Market Pulse Pro (Pulse‑X) — User Guide
Market Pulse Pro, also known as Pulse‑X, is an advanced momentum indicator that combines SMI, Stochastic RSI, and a smoothed signal line to identify zones of buying and selling strength in the market. It is designed to assess the balance of power between bulls and bears with clear visualizations.

How It Works
The indicator calculates three main components:

SMI (Stochastic Momentum Index) – measures price position relative to its recent range.

Stochastic RSI – captures overbought/oversold extremes of the RSI.

Smoothed Signal Line – based on closing price, smoothed using various methods (such as HMA, EMA, etc.).

Each component is normalized to create two final values:

Bull Herd (Buying Strength) – green line.

Bear Winter (Selling Strength) – red line.

Interpretation
Bull Herd (high green values): Bulls dominate the market. May indicate the start or continuation of an uptrend.

Bear Winter (high red values): Bears dominate. May indicate reversal or continuation of a downtrend.

Convergence around 50%: Market is balanced. Signals are weaker or indecisive.

Tip: Combine with price action analysis or support/resistance levels to confirm entries.

Customizable Settings
You can adjust:

SMI Period, Smooth K, and D – control the sensitivity of the SMI.

RSI Period – sets the RSI calculation window.

Signal Period – period for the price-based signal line.

Smoothing Methods – choose between HMA, EMA, WMA, JMA, SMMA, etc.

Line Width – thickness of the plotted lines.

Note: The JMA (Jurik Moving Average) used in this script is not the original proprietary version.
It is a custom public version, based on open-source code shared by the TradingView community.
The original JMA is copyrighted and owned by Jurik Research.

How to Use It in Practice
Buy Entries

When the green Bull Herd line crosses above 60 and the red Bear Winter line falls below 40.

Entry is more reliable if the green line is rising steadily.

Sell Entries

When the red Bear Winter line crosses above 60 and the green Bull Herd line falls.

Signals are stronger when there is a clear crossover and divergence between the two lines.

Avoid trading near the neutral zone (~50%), where the market shows indecision.

Additional Tips
Combine with volume analysis or reversal candlestick patterns for higher accuracy.

Test different smoothing methods: HMA is more responsive, SMMA is smoother and slower.