OPEN-SOURCE SCRIPT
Güncellendi Momentum Index [BigBeluga]

The Momentum Index is an innovative indicator designed to measure the momentum of price action by analyzing the distribution of positive and negative momentum values over a defined period. By incorporating delta-based calculations and smoothing techniques, it provides traders with a clear and actionable representation of market momentum dynamics.
🔵 Key Features:
Delta-Based Momentum Analysis:
Directional Momentum Signals:
Dynamic Gradient Display:
Dashboard Display:
🔵 How It Works:
🔵 Use Cases:
Momentum Index [BigBeluga] offers a refined approach to analyzing momentum dynamics, combining delta-based calculations with smoothing techniques and intuitive visuals, making it an essential tool for traders looking to anticipate market movements effectively.
🔵 Key Features:
Delta-Based Momentum Analysis:
- Calculates the momentum of price by comparing its current state to its value from a defined number of bars back.
- Inside a loop, it evaluates whether momentum values are above or below zero, producing a delta value that reflects the net momentum direction and intensity.
Double EMA Smoothing: - Smooths the raw delta-based momentum values with a double EMA filter, reducing noise and providing a clearer trend signal.
Pine Script® tmi(len) => sum = 0.0 sum1 = 0.0 above = 0.0 below = 0.0 src_ = src - src[len] for i = 0 to len sum := sum + (src_ > nz(src_) ? 1 : -1) sum1 := sum1 + (sum > 0 ? 1 : -1) sum1 := emaEma(sum1, 10) for i = 1 to len above := above + (sum1 > 0 ? 1 : 0) below := below + (sum1 > 0 ? 0 : 1) [sum1, above, below]
Directional Momentum Signals:
- Generates momentum shift signals and displays them on both the oscillator and the main chart:
- △ Aqua Triangles: Represent upward momentum shifts.
- ▽ Red Triangles: Represent downward momentum shifts.
Dynamic Gradient Display:
- Highlights momentum zones with gradient fills:
- Aqua shades for positive momentum (above zero).
- Red shades for negative momentum (below zero).
Dashboard Display:
- A dashboard summarizing the count of momentum values above and below zero for the defined period (Sentiment Length e.g. 100), helping traders assess market sentiment at a glance.
🔵 How It Works:
- The indicator takes price momentum as its source and evaluates the number of momentum values above and below zero within a defined period.
- The delta calculation aggregates this information, providing a net representation of the prevailing market momentum.
- A double EMA filter is applied to the delta values, smoothing the momentum line and enhancing signal clarity.
- Momentum shifts are highlighted with visual signals on the oscillator and price chart, while the gradient display provides a visual representation of intensity.
🔵 Use Cases:
- Momentum Tracking: Identify whether market momentum is predominantly bullish or bearish.
- Signal Confirmation: Use chart-based signals to confirm potential trend reversals or continuation.
- Analyze Market Strength: Leverage the dashboard to quickly assess the distribution of momentum over the chosen period.
- Overbought/Oversold Conditions: Utilize gradient zones to detect areas of momentum extremes and possible price exhaustion.
Momentum Index [BigBeluga] offers a refined approach to analyzing momentum dynamics, combining delta-based calculations with smoothing techniques and intuitive visuals, making it an essential tool for traders looking to anticipate market movements effectively.
Sürüm Notları
- Dashboard bars valueAçık kaynak kodlu komut dosyası
Gerçek TradingView ruhuna uygun olarak, bu komut dosyasının oluşturucusu bunu açık kaynaklı hale getirmiştir, böylece yatırımcılar betiğin işlevselliğini inceleyip doğrulayabilir. Yazara saygı! Ücretsiz olarak kullanabilirsiniz, ancak kodu yeniden yayınlamanın Site Kurallarımıza tabi olduğunu unutmayın.
🔵Gain access to our powerful tools : bigbeluga.com
🔵Join our free discord for updates : bigbeluga.com/discord
All scripts & content provided by BigBeluga are for informational & educational purposes only.
🔵Join our free discord for updates : bigbeluga.com/discord
All scripts & content provided by BigBeluga are for informational & educational purposes only.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Açık kaynak kodlu komut dosyası
Gerçek TradingView ruhuna uygun olarak, bu komut dosyasının oluşturucusu bunu açık kaynaklı hale getirmiştir, böylece yatırımcılar betiğin işlevselliğini inceleyip doğrulayabilir. Yazara saygı! Ücretsiz olarak kullanabilirsiniz, ancak kodu yeniden yayınlamanın Site Kurallarımıza tabi olduğunu unutmayın.
🔵Gain access to our powerful tools : bigbeluga.com
🔵Join our free discord for updates : bigbeluga.com/discord
All scripts & content provided by BigBeluga are for informational & educational purposes only.
🔵Join our free discord for updates : bigbeluga.com/discord
All scripts & content provided by BigBeluga are for informational & educational purposes only.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.