This is our newest momentum based indicator. With this indicator, we have combined several oscillators including RSI and Stochastic to provide the user with best entries for your trading.
When the oscillator is above the over bought bands (white line at the top) and crosses down the signal (dotted lines), it is usually a good SELL signal. When the oscillator crosses above the signal when below the oversold band (white line at the bottom), it is a good BUY signal.
After forming the larger wave, the “anchor wave” can be used for a secondary confirmation to enter a Sell or a BUY
The yellow and red line in the middle is the dynamic VWAP
Rocket ships are Divergences Grey rocket ships are hidden divergences
Blood drops are divergences Grey blood drops are hidden divergences
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- Updated the code to reflect some of the TV core code changes such as MFI plot being behind the momentum waves which has now been addressed. - Used CryptoBanda's design change and his settings for Stochastic RSI making it way easier to read. - Made it easier to visualize what's happening on the screen by turning RSI off by default.
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This version of Morpheus 2.0 includes:
- The option to select our brand-new money flow - The addition of the Golden Sell Dot, previously this indicator only had the Golden Buy Dot only had the buy dot, which in the shortest form would represent trend exhaustion. As an example, if the RSI is below 30 and there is red money flow and a few other conditions then the Gold dot prints with a 2-candle delay. - Minor changes to the design, such as square icons for the divergences, an increase in size for the Golden Dots so they are not missed and new Money Flow colours.