Normalized Velocity [Loxx]Velocity (which is often called a "smoother momentum" since it is much smoother than momentum without lagging at all) with an addition of ATR normalization
Since velocity is (even when normalization is applied) is not an indicator with fixed bounds, this indicator is uses floating levels for what is usually called overbought and oversold levels (+ a floating "zero" line is added). Something that would look like a "fixed levels" is easily achieved if you use long floating levels period in which case those levels are quite similar to fixed levels.
This indicator can be used like any momentum indicator (in that case recommended coloring mode is to use either slope coloring or "zero" middle level crossing coloring) or it can be used as a "trending" indicator in which case it is better to use coloring on outer level cross, and longer calculation periods are advised in that case.
Included:
Bar coloring
3 signal variations w/ alerts
Loxx's Expanded Source Types
Alerts
Komut dosyalarını "momentum" için ara
TTM Regression°This oscillator attempts to provide context to John Carter's "TTM Squeeze" indicator.
Similar to my MAR° indicator, statistically significant areas based on the past n candles (Lookback) are calculated to provide context for the y-axis values of the TTM indicator.
Note that Carter's squeeze idea has been dropped in favour of the regression bands, in that they offer a clear visual momentum squeeze condition.
The regression bands identify temporary exhaustion of bullish (purple) and bearish (green) momentum; these could potentially be seen as overbought and oversold indications.
The dotted midlines dictate intra-zones where momentum could reverse to continue the larger trend.
All the latter behave similarly to Support and Resistance zones.
The oscillator can also be normalized over a given interval to show results on a scale between 0 and 100, preserving even more context over time.
You should experiment for yourself to find out what is best for you in terms of scale, and Normalization Period.
Normalization Example: on the left you can observe how the momentum is visualized differently based on the scale, given the rapid momentum to the upside.
// –––. Regular
// –––. Normalized
It's crucial to use this oscillator as confluence only and not to take trades based solely on its indications.
At the moment there are no alerts set for this script, open to suggestions :)
[TTI] ZVR Watchlist––––History & Credit ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
This indicator/screener is inspired by the methodology of a great momentum master - Dan Zanger. Dan holds the world record for higher % gain in a 12month period, which was achieved in 1998 and has not been broken since. One of the secrets he has shared with the world is his famous Zanger Volume Ratio (ZVR), to which his attributes great part of his success.
–––––What it does –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
The script allows you to monitor your watchlist for the most important momentum indicators on an intraday basis in order to maximise your chance of jumping in the right time.
1️⃣ ZVR - pre breakout indicator
ZVR measures unusual momentum at a given time of the day.
Example
Imagine it is the first hour of the trading session and you get AAPL with a daily volume (up to that time) of 2mn shares. Is this normal or not? If you just compare it to the average volume you will be making a logical mistake, since you have 7more hours for volume to reach the "average" level. Henceforth, average volume should be compared on an end of day basis. However, the ZVR looks at the current intraday cumulative volume at any particular time of day, and compare that to the average cumulative volume that has usually traded by that time of day in the past.
The 4 colors are 4 types:
🔴 (RED) — Volume is over 200% of the usual cumulative intraday volume for that day
🟣 (PURPLE) — Volume is between 150% and 200% of the usual cumulative intraday volume for that day
💓 (PINK) — Volume is between 100% and 150% of the usual cumulative intraday volume for that day
🟠 (ORANGE) — Volume is between 50% and 100% of the usual cumulative intraday volume for that day
🌚 (GRAY) — Volume is under 50% of the usual cumulative intraday volume for that day
2️⃣ SQN
The SQN is defined by the late Market Wizard Dr. Van Tharp: "A measure of a market’s movement through an application of the System Quality Number calculation. To calculate, the daily changes from close to close measured in percentage terms are averaged and the standard deviation is calculated. Plugged into the SQN formula, those values and the number of days (N) provide the market SQN score."
👉 Super Bullish - denoted by SB and lime color
👉 Bullish - denoted by B and green color
👉 Neutral - denoted by N and cyan/aqua color
👉 Bearish - denoted by Br and dark red color
👉 Super Bearish - denoted by SBr and light red color
–––––How to use it –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
I use the indicator very much like a watchlist. I put it on a secondary chart and load up all the stocks that I have identified as a buyable. I then wait to get signs of breakout. My favourites are stocks which are in SuperBullish trend (SQN) and starting to show RED ZVR in the beginning of the day. Often these are very strong names that show institutional buying. I purchase close to pivot point and hold for a swing trade. If the stock advances too fast 5-7% on the day, I take some off into strength.
Suggested use for this indicator is to combine with any volatility contraction methodology. Some examples include the TTM Squeeze, Squeeze Pro or my personal favorite Mark Minervini's Volatility Contraction Pattern (VCP).
Look for stocks in a long term uptrend (we have another indicator for Stage 2 identification).
Momentum LineWhat is this?
Momentum line (a blue line at the bottom area) tells you the short term trend movement of price. It will useful when the major trend is not developed-well. This line is not for a single use. We suggest you to use it with our other module: Trend Optimizer module, as shown above the momentum line.
Indicator & Strategies:
Momentum Line is based on moving average convergence divergence (MACD). We don't use the histogram, we don't concern the 2 lines crossing. So we blend the two lines into single lines.
See the charts, see the trend color (trend optimizer module) when it changed from long red color into white. It shows the medium trend changed from strong downtrend into neutral. But since the long term trend (the vertical trend bar below) is still not yet changed into green, the major trend (medium & long term) is still in development process. This is when we need to look at momentum line. If it pointing up, it gives confirmation that the uptrend is developing and you can buy the stocks using trend or swing strategies 9our profit trader module)
Benefit For you:
You can detect an early bottom reversal phase especially when you combine this momentum line script with out trend optimizer script.
Momentum CloudThis is a modified Ichimoku Cloud:
-The default Lookback-Length and Displacement settings have been modified to operate optimally on 24/7 markets - which is popular among Crypto analysts.
-The Lagging Span, Base Line, and Conversion Line have been removed - leaving just the bare cloud.
-Additionally, the Cloud's color will shift blue when it is compressed. (More specifically - when Leading Span A retreats to Leading Span B, the color changes.)
This allows the user to easily identify when the Cloud is "thinning", either to the upside, or the downside.
Being that the "spread" or "width" of an Ichimoku Cloud generally gauges it's efficacy as potential Support or Resistance, this tool is particularly useful for highlighting when momentum is weakening.
*This script will be updated in the future to allow the user to view the Momentum Cloud of alternate time-frames! (e.g, Viewing the 1D Momentum Cloud on the 1H timeframe)
RSI Performance - TradingEDThis case study is based on a previous RSI study, but with three different counts to compare different trends. The use of this indicator is restricted to private use, and it can be used only by invitation. Different functionalities have been added to the original code, such as alerts and signals that seek to make trading much easier to interpret by any type of trading operator of any experience level, from beginner to intermediate and advanced .
Key components of the original indicator:
● The Relative Strength Index ( RSI ) is a popular momentum oscillator developed in 1978.
● The RSI provides technical traders signals about bullish and bearish price momentum, and it is often plotted beneath the graph of an asset's price.
● An asset is usually considered overbought when the RSI is above 70% and oversold when it is below 30%.
It is a momentum indicator used in technical analysis that measures the magnitude of recent price changes to assess overbought or oversold conditions in the price of an asset. The RSI is displayed as an oscillator (a line chart moving between two extremes) and can read from 0 to 100. Overbought does not necessarily mean that the price will reverse lower, just as oversold does not mean that the price will reverse higher. Rather, the overbought and oversold conditions simply alert traders that the RSI is near the extremes of its recent readings.
Main functions of this modified indicator:
1) The SOURCE for the counts can be determined by the trader (close, open, etc).
2) You can select the type of MOVING AVERAGE, among many available options ( SMA , EMA , DEMA , HMA , etc.)
3) The MEASURE can be based on a CANDLES count if you are trading OHLC Charts from 1D onwards, or if your trading is intraday, you can also select counts by MINUTES, HOURS or DAYS, depending on your trading style.
4) LENGTH, by default it will be loaded as in the STRATEGY, but considering the previous point, you can modify it according to your convenience.
5) You have the option to hide or show a LABEL at the top of the chart, with respect to the signals: BULLISH green, BEARISH red.
Main performance functions of this modified indicator:
I) In the case of the PERFORMANCE that appears at the right of the chart, you have the option to adjust the WIDTH of each box.
II) The TEXT of the PERFORMANCE is not modifiable, but you can customize the default color. *
III) The BACKGROUND of the PERFORMANCE, you can customize the default color. *
IV) You have the option to hide or show a PERFORMANCE that appears at the right of the chart.
Main functions to customize the style of this indicator:
a) You can select the color for the ADJUSTED LEVEL and for the MOVING AVERAGE, with the colors that best suit you.
b) The CROSSOVER/CROSSUNDER signal between the MOVING AVERAGE and the ADJUSTED LEVEL can also be customized. *
c) For any type of SIGNAL, it is painted as a VERTICAL LINE in the graph, you can change the color that comes by default. *
d) In the case of the LABEL that appear at the top, the text is not modifiable, but you can customize both the type of label and change the default color. *
e) You can select the color for OVERVALUED and for UNDERVALUED levels, with the colors that best suit you.
f) You can select the colors for the BACKGROUND of the indicator according to the trend, whether it is BEARISH or BULLISH, with the colors that best suit you. *
* By default, they are marked as red for downtrends and green for uptrends.
Momentum Trader + Trinity LinesThis is an updated version of the 'Momentum Trader' by user ProfitProgrammers + the 'Bollinger Bands %b & RSI & Stochastic Smoothed Indicator & Alert' by the user Zamboniman.
Links to those original scripts are below:
script/7S49kLWh-Bollinger-Bands-b-RSI-Stochastic-Smoothed-Indicator-Alert/
script/OMULR9es-Momentum-Trader/
The only real updates are so that it works on Version 4 of pinescript and some color and visual updates that makes these two scripts work well together. This must be used on normal candles and not HA or any other types or you can get misleading entry / exit points.
Here is some info about this indicator and the moving parts within it:
Chande Momentum Oscillator:
-Measures trend strength, with higher absolute values meaning greater strength.
-Also tracks divergence. When price increases, but is not accompanied by an increase in Chande Momentum Oscillator values, it signifies bearish divergence and a reversal is likely to follow.
-Shown as the teal and pink histogram.
Percentage Price Oscillator:
-Similar to the MACD , except that it expresses the difference between the two moving averages in terms of a percentage. This makes it a little easier to visualize.
-PPO values greater than zero indicate an uptrend, as that means the fast EMA is greater than the slow (and vice versa).
Trinity Lines:
-These 3 colored lines at the top are RSI + normalized Bollinger Band &b + normalized smoothed Stochastic.
-A confirmation entry for a long is when the lines are in the order from top to bottom of Green Yellow Red.
Entry and Exit Conditions:
Enter When:
1) Chande Momentum crosses over zero from negative to positive territory. AND
2) Chande Momentum is rising(positive slope). AND
3) Trinity lines are Green, Yellow, Red (Top to bottom)
Exit When:
1) Chande Momentum is greater than the upper line. AND
2) PPO has a negative slope. AND
3) Trinity lines are Red, Yellow, Green (Top to bottom)
Chef BubblesThis is an enhanced version of Momentum indication Ways that shows 2 ways to calculate momentum and display each one along with their combined average value.
Essentially I've matched the momentum from the lower time frames together to determine when we are getting a push, amazing for scalps, I use it for everything.
Alongside this, I also made sure to add the currency's strength pretty much embedded within the momentum indicator , thus giving you the best momentum indication you can get a good entry point majority of the time if used right. I recommend matching this with my moving average crossover pair.
Effective Divergence Indicator
What is EffDI?
Effective Divergence Indicator(EffDI) is a modified Momentum indicator designed to detect divergences in stocks, futures, forex, and crypto, just to name a few.
How does it work?
It uses the EMA of daily velocity.
Isn't this the same as Momentum
No. Momentum compares the price x days ago, while this takes the EMA of the daily velocity.
Why is it better than momentum in detecting divergence?
Because it uses an EMA, an EMA gives weight to the latest prices. I don't know how to explain the logic behind this, but it works :)
ok,ok, I get it, but how do I use it to buy, sell, and get a ton of profits?
Refer to the diagram below.
Steps:
Step 1: Locate the divergence(marked A,B,C and D): no divergence, no trade.
Step 2: Locate the last EffDI high. Mark that E.
Step 3(entry): Buy when price goes above E. For shorts, Short Sell when price goes below E.
Step 4(exit): Exit position when another divergence is detected,
OR
When A new Lower Low is formed.
As you can see, if you follow the steps, there is a good chance the profits will come to you. Cheers!
DO YOU WANT MORE GOOD INDICATORS LIKE THESE TO IMPROVE YOUR TRADING? Then, make sure to follow @Trader_ph (or i will eat all of your cookies)
Feel free to use my code below, BUT make sure to credit me if you make any modifications. :)
Trend Oscillator (Expo)Trend Oscillator (Expo) measures the overall trend strength and how strong the current price move/momentum is. The indicator is leading since it can signal a possible trend change that is yet to start. The color of the histogram and its value helps to gauge the strength and momentum of the trend.
The user can enable Bar Color that coloring the candlesticks based on the trend strength.
The user can choose between different trend calculations, such as smoothed trend, volume-weighted trend, a non-lagging trend, to mentions a few.
DIVERGENCES
All types of oscillators produce divergences and so does Trend Oscillator (Expo). Divergences occur when the oscillator deviates from the trending price action. Bullish divergence is then when the trending price makes a lower low but the oscillator makes a higher low. Bearish divergence is then when the trending price makes a higher high but the oscillator makes a lower high.
HOW TO USE
Identify the trend strength and direction
Identify current momentum
Identify potential trend reversals
Identify Overbought and Oversold areas
INDICATOR IN ACTION
1 min chart
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
-----------------
Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/strategies/ideas are only for educational purposes!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
Momentum Reversal Indicator (MRI)This is the Beta release of the Momentum Reversal Indicator (MRI), expect an update by the end of year.
The Momentum Reversal Indicator (MRI) is an advanced script for professional traders who have taken the time to learn all its functions. It is a time based indicator that anticipates the ending of trends based on the momentum in price movement. As an important secondary element, MRI also suggests when a trend might be starting or continuing, which a trader can certainly take advantage of. It is useful across all assets and all time frames but is ideal in more liquid assets on Daily & Weekly time frames.
Since this is an Invite Only Script, I will not be making the code public nor explain the math logic of the code here in TradingView. TradingView also limits any external links, but those interested in details or access should be resourceful enough to find all the information they need on my website. However, I will try and explain the usefulness of the MRI indicator with the following images.
MRI will display a downwards red arrow above the candle when the bullish trend is ending and an upwards green arrow above the candle when the bearish trend is ending. The candle before the MRI top/bottom is marked by an orange arrow warning you that the trend might be ending on the next candle. (It's common that the trend ends on the candle before or after this MRI signal, I personally like to use single candlestick reversals for confirmation like Shooting Stars, Hammers and Doji). The orange arrow will disappear if a green or red arrow shows up, but will remain on the chart if on the following candle, the conditions needed to make the MRI signal are not met. See NYSE:UBER chart below:
When the number above the arrow is something other than a 1, it indicates a strong trend and the number represents consecutive instances of hitting that MRI extreme condition. These consecutive instances have been known to cause major changes in trend and the larger the number, the bigger the move might be. Here is a recent example of the daily chart hitting a 3 on the MRI, with the market falling 6.5% in the following 3 days and 10% over the next 3 weeks (you can see this in the image used to publish this script)
The biggest number I have seen is a 5, this occurred on the weekly chart of AMEX:CBOE as it was followed by a 30% correction over the next two weeks.
Following an MRI Top/Bottom there are three different Extensions of trend if the price continues to move in the same direction and does not reverse with the MRI. It’s up to the trader to decide which of the three they find most relevant, for me it’s B & C, and there are settings you can use to remove what you don't care for from display. They have a different but similar rule set which is explained to those serious about the indicator and purchase access, which comes with full explanations in a video. Here is a recent chart of NASDAQ:AMZN for an example:
And here is a weekly chart of NYSE:GM topping on Extension C with the MRI warning (Orange Arrow). Extensions A & B also provided good profit takes after a big run up
These Extensions are particularly useful when they occur on (or right around) an MRI Top/Bottom. Here is an example where it timed the 2018 stock market SPCFD:SPX top perfectly leading directly into an MRI Bottom two weeks later (Also notice how we can show multiple timeframes hitting MRI levels)
In addition to Extensions, an MRI Top/Bottom generates a Resistance/Support line (dotted) and a Breakout Line (solid). The Support/Resistance not only has a tendency to reverse the price but also increases the probability of the MRI leading to a full reversal if the line is not broken. By breaking this dotted line, you increase the probability of entering the Extension of Trend. The Breakout line tends to notify the trader that the trend is very strong and continuing. As an example of Support line, here is a recent 1 hour BITSTAMP:BTCUSD chart
Here is FX_IDC:EURUSD as of today on a daily chart which shows the Extension of trends once these critical support/resistance and breakout lines are taken out.
The indicator also shows you if the MRI is hitting critical levels on higher level time frames. We have set the defaults to Hourly (H), Daily (D), Weekly (W), Monthly (M) and Yearly (Y). You can turn these off in settings and you can also add up to 3 additional custom timeframes of your choice to the display list. When MRI lines up across several time frames it has a history of causing significant moves, here is an example of NSE:TITAN which fell 25% after aligning with the Daily, Weekly and Monthly timeframes for a top.
The recent top in TVC:GOLD came on a Friday which had a Daily Extension B & C top. The following Monday kicked off a weekly MRI Top and a week later was the start of September, which happens to be a Monthly MRI Top. Gold is still trending lower as of today and is down 11% since this top less than 2 months ago.
One final note on the multi-timeframe is that if you have the Hourly (H) set to display on a chart that only has end of day data, the Indicator will not work so make sure to uncheck all timeframes that can't be identified in the settings.
Here are additional charts that show the power of MRI including cryptocurrencies:
Recent 25% crash in BINANCE:BNBBTC
Of course we have to mention BITSTAMP:BTCUSD here is how MRI called the time period around the big crash in March 2020. There was a very timely MRI Top several weeks prior and once the Support line broke, it went right down into a nice MRI Bottom.
Volatility Index Weekly & Daily as of today CBOE:VIX
Here is the current look at the weekly USD chart TVC:DXY you can see how it tops on Extension C in March and seems to have bottomed with the MRI in late August.
One more look at a stock chart, here we have the Weekly NASDAQ:SBUX as of today, it perfectly oscillates between the MRI calls the last two years.
Disclaimer : Trading is risky and using MRI (like any other indicator) does not guarantee positive returns. It does not blindly provide Buy/Sell/Short calls and the trader will need to evaluate every alert.
“The average man doesn’t wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn’t even wish to have to think.” - Jesse Livermore
Personal Note: I would like to credit the following people that all lead to the knowledge needed to build the MRI: Larry Williams, Tom DeMark, Tyler Jenks, Martin Armstrong & Kevin O’Dowd (most of whom I have met or interacted with)
Thank you everyone, if this indicator interests you, you know what to do...
Good Luck Trader,
Tone Vays
Neglected Volume by DGTVolume is one piece of information that is often neglected, however, learning to interpret volume brings many advantages and could be of tremendous help when it comes to analyzing the markets. In addition to technicians, fundamental investors also take notice of the numbers of shares traded for a given security.
What is Volume?
The volume represents all the recorded trades for a security that occurs in a given time interval. It is a measurement of the participation, enthusiasm, and interest in a given security. Think of volume as the force that drives the market. Volume substantiates, energizes, and empowers price. When volume increases, it confirms price direction; when volume decreases, it contradicts price direction.
In theory, increases in volume generally precede significant price movements. However, If the price is rising in an uptrend but the volume is reducing or unchanged, it may show that there’s little interest in the security, and the price may reverse.
A high volume usually indicates more interest in the security and the presence of institutional traders. However, a rapidly rising price in an uptrend accompanied by a huge volume may be a sign of exhaustion.
Traders usually look for breaks of support and resistance to enter positions. When security break critical levels without volume, you should consider the breakout suspect and prime for a reversal off the highs/lows
Volume spikes are often the result of news-driven events. Volume spike will often lead to sharp reversals since the moves are unsustainable due to the imbalance of supply and demand
note : there’s no centralized exchange where trades are recorded, so the volume data represents what happens at a particular exchange only
In most charting platforms, the volume indicator is presented as color-coded bars, green if the security closes up and red if the security closed lower, where the height of the bars show the amount of the recorded trades
Within this study, Relative Volume , Volume Weighted Bars and Volume Moving Average are presented, where Relative Volume relates current trading volume to past trading volume over long period, Volume Weighted Bars presents price bars colored based on short period past trading volume average, and Volume Moving Average is average of volume over shot period
Relative Volume is presented as color-coded bars similar to regular Volume indicator but uses four color codes instead two. Notable increases of volume are presented in green and red while average values with back and gray, hence adding ability to emphasis notable increases in the volume. It is kind of a like a radar for how "in-play" a security is. Users are allowed to change the threshold, default value is set to Fibonacci golden ration standard deviation away from its moving average.
Volume Weighted Bars, a study of Kıvanç Özbilgiç, aims to present if price movements are supported by Volume. Volume Weighted Bars are calculated based on shot period volume moving average which will reflect more recent changes in volume. Price actions with high volume will be displayed with darker colors, average volume values will remain as they are and low volume values will be indicated with lighter colors.
Volume Moving Average, Is short period volume moving average, aims to display visually the volume changes. Please not that Relative Volume bars are calculated based on standard deviation of long volume moving average.
What Else?
Apart from the volume itself, your ability to assess what volume is telling you in conjunction with price action can be a key factor in your ability to turn a profit in the market. It makes little sense to analyze the volume alone. To correctly interpret the volume data, it shall be seen in the light of what the price is doing. there are a lot of other indicators that are based on the volume data as well as price action. Analysing those volume indicators has always helped traders and investors to better understand what is happening in the market.
Here are the ones adapted with this study. Some of them used as a source for our aim, some adapted as they are with slight changes to fit visually to this study and please note that the numerical presentation may differ from their regular use
• On Balance Volume
• Divergence Indicator
• Correlation Coefficient
• Chaikin Money Flow
Shortly;
On Balance Volume
The On Balance Volume indicator, is a technical analysis indicator that relates volume flow to changes in a security’s price. It uses a cumulative total of positive and negative trading volume to predict the direction of price. The OBV is a volume-based momentum oscillator, so it is a leading indicator — it changes direction before the price
Granville, creator of OBV, proposed the theory that changes in volume precede price movements in a measurable way. He believed that volume was the main force behind major market moves and thought of OBV’s prediction of price changes as a compressed spring that expands rapidly when released.
It is believed that the OBV shows the interactions between the institutional and retail traders in the market
If the price makes a new high, the OBV should also make a new high. If the OBV makes a lower high when the price makes a higher high, there’s a classical bearish divergence — indicating that only the retail traders are buying. Another type of bearish divergence occurs when the price remains relatively quiet and fails to make a higher high but the OBV soars higher than the previous high — indicating that the institutional traders are accumulating short positions. On the other hand, if the price makes a lower low and the OBV makes a higher low, there is a classical bullish divergence, showing that the institutional traders don’t believe in that move
With this study, Momentum and Acceleration (optional) of OBV is calculated and presented, where momentum is most commonly referred to as a rate and measures the acceleration of the price and/or volume of a security. It is also referred to as a technical analysis indicator and oscillator that is able to determine market trends.
Additionally, smoothing functionality with Least Squares Method is added
Divergences especially, should always be noted as a possible reversal in the current trend, so the divergence indicator is adapted with this study where the Momentum of OBV is assumed as Oscillator with similar usages as to RSI. Divergence is most often used to track and analyze the momentum in an asset’s price and the odds of a price reversal within the current trend. The divergence indicator warns traders and technical analysts of changes in a price/volume trend, oftentimes that it is weakening or changing direction.
Correlation Coefficient
The correlation coefficient is a statistical measure of the strength of the relationship between the relative movements of two variables. A correlation of -1.0 shows a perfect negative correlation, while a correlation of 1.0 shows a perfect positive correlation. A correlation of 0.0 shows no linear relationship between the movement of the two variables. In other words, the closer the Correlation Coefficient is to 1.0, indicates the instruments will move up and down together as it is mostly expected with volume and price. So the Correlation Coefficient Indicator aims to display when the price and volume (on balance volume) is in correlation and when not. With this study blue represent positive correlation while orange negative correlation. The strength of the correlation is determined by the width of the bands, to emphasis the effect horizontal lines are drawn with values set to 0.5 and -0.5. the values above 0.5 (or below -0.5) shows stronger correlation.
Chaikin Money Flow , provide optionally as a companion indicator
The Chaikin money flow indicator (CMF) is a volume indicator that measures the money flow volume over a chosen period. The money flow volume is a measure of the volume and where the price closed relative to the trading session’s range. It comes from the idea that buying pressure is indicated by a rising volume and recurrent closes in the upper part of the session’s price range while selling pressure is demonstrated by an increasing volume and repeated closes in the lower part of the price range.
Both buying and selling pressures are accompanied by an increase in volume, but the location of the closing prices are in accordance with the direction of price
Special thanks to @InvestCHK and @hjsjshs , who have enormously contributed while preparing this study
related studies:
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Momentum ZigZag Territories & Momentum
Territories:overall Bullish , overall Bearish, minor Bullish , minor Bearish
Definition of trend:
BULL - consecutive HIGHER HIGH and HIGHER LOW, once NO NEW HIGHER HIGHS is formed, doesn't mean its automatically BEARISH; Once HIGHER LOW is BROKEN and PRICE forms LOWER LOW and LOWE HIGH bellow previous HIGHER LOW its officially BEAR TREND
BEAR - consecutive LOWR LOW and LOWER LOW, once NO NEW LOWER LOW is formed, doesn't mean its automatically BULLISH ; Once LOWER HIGH is BROKEN and PRICE forms HIGHER HIGH above previous HIGH its officially BULL TREND
Minor territory is shorter trend within overall trend: as Long as overall trend is not broken , it is bound to continue once minor territory gets broken
MOMENTUM - its is the motion of trend, and character of condition
Momentum is not Strategy alone, it is part of technical analysis
momentum is used to determent : current conditions (trend , range , channel ) heath and strength
Momentum DivergenceTrading Divergence based on Momentum (Indicator below), If you want to make this a strategy i would use all those indicators above for extra confirmation.
"Momentum Divergence" indicator includes the following:
-"Momentum Waves" (blue waves)
-"Stochastic RSI" color change (green/red lines)
-"RSI" (purple line)
-"Money Flow Index" (green/red bar below)
-"Volume Weighted Average Price" ( (yellow/red areas ) (not included yet, but i will include it soon))
Green/Red circles added for possible trend Reversals
Alerts can be set on those Green/Red circles
How to Trade:
Draw Divergence between waves as shown on the chart for LONG/SHORT position (From a Big Wave to a small Wave ... The big Wave MUST be above Blue line in order to draw a divergence line (60 Threshold))
When to Sell:
There is no specific way to exit but with support/resistance zones will help to exit position AND the other indicators will help too (DONT GET GREEDY)
More info:
Since this is a combination of oscillators it should work in any time frame.
-MUST use Heikin Ashi candles.
Coming updates:
-Include VWAP
-Automatic draws divergence between HH HL LH LL waves with pine script version @4
Momentum TraderThis study combines two versatile momentum indicators :
Chande Momentum Oscillator:
-Measures trend strength, with higher absolute values meaning greater strength.
-Also tracks divergence. When price increases, but is not accompanied by an increase in Chande Momentum Oscillator values, it signifies bearish divergence and a reversal is likely to follow.
-Shown as the teal and pink histogram.
Percentage Price Oscillator:
-Similar to the MACD, except that it expresses the difference between the two moving averages in terms of a percentage. This makes it a little easier to visualize.
-PPO values greater than zero indicate an uptrend, as that means the fast EMA is greater than the slow (and vice versa).
Entry and Exit Conditions:
Enter When:
1) Chande Momentum crosses over zero from negative to positive territory. AND
2) It has been less than 3 bars since Chande Momentum was less than the lower green line. AND
3) Chande Momentum is rising(positive slope).
Exit When:
1) Chande Momentum is greater than the upper line. AND
2) It has been less than 6 bars since the PPO value was greater than the upper bound. AND
3) PPO is less than 5 (meaning the difference between the two EMA's is less than 5%). AND
4)PPO has a negative slope.
This study comes with alert conditions for long entries and exits.
~Happy Trading~
MPT - MEDIAN PRICE TRADING - custom forex indicator
MPT is a unique custom indicator i created to enter a trade with the right timing
This indicator catches the momentum of a Forex pair and tells you when to enter
It's based on the idea that when the median price in the current timeframe is crossing the median price of the higher timeframe, the momentum is changing and that is an opportunity to trade
red line is median line of current timeframe (default is 1D)
aqua line is projection of past median line on higher timeframe (default is 1W)
white crosses can be used as a trail stop values to follow a trend
when red cross aqua up the background is green and so momentum of the pair is up
when red cross aqua down no background color and momentum down
You can try this indicator for a limited period, just ask for access in comments
If you want unlimited access you can PM me
Trading is a risky business, use it at your own risk. I'm not responsible for any profit or loss
checklist by jaeheeChecklist by Jaehee
This indicator displays a real-time checklist label on the chart, summarizing key market conditions in a compact, actionable format. It does not produce buy/sell signals but instead functions as a **decision support tool** for active traders.
### Included Metrics
- ADX Value: Current trend strength based on ADX(14)
- EMA Structure: Detects trend alignment across 5 key EMAs (5, 20, 60, 120, 240)
→ Output: `Uptrend`, `Downtrend`, or `Mixed`
- Volatility Condition: Measures current ATR(14) vs 20-period average ATR
→ Output: `High`, `Normal`, or `Low`
- Volume Analysis: Compares current volume to 20-bar average
→ Output: `High`, `Normal`, or `Low` with spike ratio
- RSI Value: Standard RSI(14) reading
- Price Zone: Where current price is relative to recent 20-bar high/low
→ Output: `Near High`, `Mid`, `Near Low`
- MACD Momentum Slope: Slope direction of MACD histogram
→ Output: `Rising`, `Falling`, or `Flat`
### Use Case
This tool is designed for traders who prefer to make manual decisions based on multiple factors. Instead of cluttering the chart with individual indicators, **all essential metrics are consolidated into a single floating label** that updates in real time.
The checklist provides a snapshot of:
- Trend direction and strength
- Volatility regime
- Relative price level
- Momentum direction
- Volume dynamics
It is particularly useful for:
- Evaluating market context before entering a trade
- Filtering out suboptimal setups
- Enhancing discretionary trading frameworks
### Notes
- No signals, no repainting
- Purely visual and informational
- Fully customizable if extended
Abir Momo Pickup/Drop IndicatorCatch Monsters Early , Pyramid Hard, Exit Before They Bite Back
Abir Momo Pickup / Drop Indicator
Why it matters
Spot the next monster at ignition: the script paints a solid blue bar only when all momentum engines fire in the same session.
Scale with conviction: keep adding while the tape stays blue; every fresh blue print means momentum is still accelerating.
Grey‑bar. That’s your cue, the beast is tiring, tighten stops, Swing traders exit
How to use
Scan your High RS watch list daily; blue bar prints mean an early monster is on the loose.
Pyramid into strength, each successive blue keeps risk tight with rising lows.
Grey candle? Stop feeding it, trail hard, or book partials.
Rinse, repeat; your average hold shrinks, you increase your money rotation, your winners run, and your losers barely dent the P&L.
Dial it to taste
Trend Filter: leave ON only to chase setups trading above their 50 EMA; flip OFF for aggressive swing tactics.
Bottom line
“Catch monsters early, pyramid into strength, and sell as they even think of correcting.”
This overlay turns that mantra into colour‑coded, one‑glance discipline.
Keep the blue flames burning!
Ask ChatGPT
Spread AnalysisSpread Analysis - Futures vs Spot Price Analysis
Advanced spread analysis tool that compares futures/perp prices with spot prices across multiple exchanges, providing insights into market sentiment and potential trading opportunities.
Multi-Asset Support: Automatically detects and analyzes crypto perpetual vs spot spreads, index futures vs cash indices (ES/SPX, NQ/NDX, YM/DJI), and commodity futures vs spot prices (GC/GOLD, CL/USOIL)
Multi-Exchange Aggregation: For crypto, aggregates prices from Binance, BitMEX, Kraken, Bybit, OKX, and Coinbase to calculate mean perp and spot prices
Z-Score Based Alerts: Uses statistical Z-score analysis to identify extreme spread conditions that may signal potential reversals or continuation patterns
Visual Histogram Display: Shows spread differences as colored columns - green for futures premium, red for futures discount
Flexible Calculation Methods: Supports absolute price differences, percentage spreads, or basis point calculations
Trading Applications: Identify market sentiment divergence, spot potential reversal opportunities, and confirm trend strength
Risk Management: Use extreme Z-scores to identify overvalued conditions and potential mean reversion setups
Market Analysis: Understand the relationship between futures and spot markets across different asset classes
Timing Tool: Spread momentum often precedes price moves, providing early signals for entry/exit decisions
Perfect for traders who want to understand the relationship between futures and spot markets, identify divergences, and spot potential reversal opportunities across crypto, indices, and commodities.
Key Features:
• Automatic asset detection and appropriate spread calculation
• Configurable Z-score alerts for extreme conditions
• Comprehensive tooltips and information guide
• Multiple calculation methods (absolute, percentage, basis points)
• Clean, customizable visual display
Use Cases:
• Crypto traders analyzing perp vs spot relationships
• Futures traders monitoring basis relationships
• Mean reversion strategies using extreme spreads
• Trend confirmation using spread momentum
• Market sentiment analysis across asset classes
Market Pulse ProMarket 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.
BG Ichimoku Tenkan & RSI MTF (Optimized)BG Ichimoku Tenkan & RSI MTF (Optimized)
The "BG Ichimoku Tenkan & RSI MTF (Optimized)" is a powerful and versatile TradingView indicator designed to provide multi-timeframe insights into market momentum using both the Tenkan-sen component of the Ichimoku Kinko Hyo and the Relative Strength Index (RSI). Developed by BAB & GINO, this tool helps traders quickly gauge trends and potential reversals across various timeframes directly on their chart.
Key Features and Functionality
This indicator combines visual clarity with comprehensive data presentation in a customizable table, making it easier to monitor multiple market dynamics at a glance.
Tenkan-sen Analysis
The Tenkan-sen (turning line) is a crucial part of the Ichimoku Kinko Hyo, calculated as the average of the highest high and lowest low over the past 9 periods. It serves as a short-term trend indicator.
Main Tenkan-sen Plot: The indicator displays the main Tenkan-sen line on your chart, colored dynamically to match the active chart's timeframe color for easy identification.
Multi-Timeframe (MTF) Tenkan Lines: You can enable additional Tenkan-sen lines for up to seven user-defined timeframes (e.g., 1m, 3m, 5m, 15m, 30m, 60m, 240m). These lines extend from the current bar with an adjustable offset, helping you visualize higher or lower timeframe Tenkan-sen levels relative to the current price.
MTF Line Labels: Each MTF Tenkan line can have a corresponding label indicating its timeframe (e.g., "1m", "3m"), with customizable size and offset for optimal visibility.
Tenkan Trend in Table: The indicator's integrated table clearly shows the current relationship between the Tenkan-sen and the price for each selected timeframe. An "🔼" symbol indicates the Tenkan-sen is above the price (bullish signal), while a "🔽" symbol indicates it's below (bearish signal), along with the Tenkan-sen's rounded value.
RSI Analysis
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It typically ranges from 0 to 100 and is used to identify overbought or oversold conditions.
Customizable RSI Levels: You can set standard high (e.g., 60) and low (e.g., 40) RSI levels, as well as extreme high (e.g., 80) and extreme low (e.g., 20) levels to define zones of interest.
RSI Status in Table: The table provides a quick overview of the RSI value for each chosen timeframe, accompanied by intuitive emojis and symbols:
"🥵": Extremely overbought (above extreme high level)
"↑": Overbought (above high level)
"🥶": Extremely oversold (below extreme low level)
"↓": Oversold (below low level)
"-": Neutral (between high and low levels) The RSI value is also displayed, rounded to two decimal places.
Customizable Settings
The indicator offers extensive customization options through its input panel:
Table Position: Choose where the information table appears on your chart (Top Left, Top Right, Bottom Left, Bottom Right, Bottom Center).
Tenkan-sen Display: Toggle the visibility of the main Tenkan-sen line and the MTF Tenkan lines.
Line Offset: Adjust how far the MTF Tenkan lines extend from the current price bar.
MTF Label Settings: Control the visibility, size, and pixel offset of the MTF Tenkan line labels.
RSI Configuration: Define the RSI length and the thresholds for high, low, extreme high, and extreme low levels.
Table Text Size: Customize the font size within the indicator's table (Tiny, Small, Normal, Large).
Timeframe Selection: Independently set up to seven specific timeframes (in minutes) for both Tenkan and RSI analysis.
Timeframe Colors: Assign unique colors to each of the seven selected timeframes. These colors are used for the MTF Tenkan lines on the chart, the main Tenkan-sen line when its timeframe matches the chart, and the header cells in the information table, providing a consistent visual theme.
This "BG Ichimoku Tenkan & RSI MTF (Optimized)" indicator is a valuable tool for traders looking to enhance their market analysis with multi-timeframe confirmation, aiding in better-informed trading decisions.
MACD Crossover + AlertMACD Proximity & Crossover Alert Script
This script is designed to help traders stay ahead of MACD crossovers by providing:
Early alerts when the MACD and Signal lines are getting close (within a customizable threshold)
Instant alerts when a bullish or bearish crossover occurs
Whether you're swing trading or scalping, this tool gives you advanced notice to prepare — and a confirmation signal to act on. It works on any timeframe and helps avoid late entries by alerting you when momentum is shifting.
Features:
Customizable MACD settings (fast, slow, signal length)
Adjustable "proximity" threshold
Visual background highlight when lines are close
Built-in alert conditions for:
MACD crossing above Signal (bullish)
MACD crossing below Signal (bearish)
MACD and Signal getting close (early warning)
Perfect for traders who want a heads-up before momentum shifts — not just a reaction afterward.
Session Profile AnalyzerWhat’s This Thing Do?
Hey there, trader! Meet the Session Profile Analyzer (SPA) your new go-to pal for breaking down market action within your favorite trading sessions. It’s an overlay indicator that mixes Rotation Factor (RF), Average Subperiod Range (ASPR), Volume Value Area Range (VOLVAR), and TPO Value Area Range (TPOVAR) into one tidy little toolkit. Think of it as your market vibe checker momentum, volatility, and key levels, all served up with a grin.
The Cool Stuff It Does:
Rotation Factor (RF) : Keeps tabs on whether the market’s feeling bullish, bearish, or just chilling. It’s like a mood ring for price action shows “UP ↑,” “DOWN ↓,” or “NONE ↔.”
ASPR : Averages out the range of your chosen blocks. Big swings? Tiny wiggles? This tells you the session’s energy level.
VOLVAR : Dives into volume to find where the action’s at, with a smart twist it adjusts price levels based on the session’s size and tiny timeframe moves (capped at 128 so your chart doesn’t cry).
TPOVAR : Grabs lower timeframe data to spot where price hung out the most, TPO-style. Value zones, anyone?
Dynamic Precision : No ugly decimal overload SPA matches your asset’s style (2 decimals for BTC, 5 for TRX, you get it).
How to Play With It:
Session Start/End : Pick your trading window (say, 0930-2200) and a timezone (America/New_York, or wherever you’re at).
Block Size : Set the chunk size for RF and ASPR like 30M if you’re into half-hour vibes.
Value Area Timeframe : Go micro with something like 1S for VOLVAR and TPOVAR precision.
Label : Size it (small to huge), color it (white, neon pink, whatever), and slap it where you want (start, mid, end).
How It All Works (No PhD Required):
RF : Imagine breaking your session into blocks (via Block Size). For each block, SPA checks if the high beats the last high (+1) or not (0), and if the low dips below the last low (-1) or not (0). Add those up, and boom positive RF means upward vibes, negative means downward, near zero is “meh.” Use it to catch trends or spot when the market’s napping.
ASPR : Takes those same blocks, measures high-to-low range each time, and averages them. It’s your volatility pulse big ASPR = wild ride, small ASPR = snooze fest. Great for sizing up session action.
VOLVAR : Here’s the fun part. It takes the session’s full range (high minus low), divides it by the average range of your tiny Value Area Timeframe bars (e.g., 1S), and picks a sensible number of price levels capped at 128 so it doesn’t overthink. Then it bins volume into those levels, finds the busiest price (POC), and grows a 70% value area around it. Perfect for spotting where the big players parked their cash.
TPOVAR : Grabs midpoints from those tiny timeframe bars, sorts them, and snips off the top and bottom 15% to find the 70% “value zone” where price chilled the most. Think of it as the market’s comfort zone great for support/resistance hunting.
Why You’ll Like It:
Whether you’re scalping crypto, swinging forex, or dissecting stocks, SPA’s got your back. Use RF to catch momentum shifts like jumping on an “UP ↑” trend or fading a “DOWN ↓” exhaustion. ASPR’s your secret weapon for sizing up trades: a big ASPR (say, 100 on BTC) means you can aim for juicy targets (like 1-2x ASPR) or set invalidations tight when it’s tiny (e.g., 0.001 on TRX) to dodge chop. VOLVAR and TPOVAR are your level-finders nail those key zones where price loves to bounce or break, perfect for entries, stops, or profit grabs. It’s like having a trading co-pilot who’s chill but knows their stuff.
Heads-Up:
Load enough history for those micro timeframes to shine (1S needs some bars to work with).
Keeps things light won’t bog down your chart even with decent-sized sessions.
Let’s Roll:
Slap SPA on your chart, tweak it to your style, and watch it spill the beans on your session. Happy trading, fam may your pips be plenty and your losses few!
