This Momentum indicator shows a green or red ribbon when smoothed momentum is bullish or bearish. It also includes a long moving average for overall trend confirmation. Wait until the ribbon holds above or below the long moving average and take positions in that direction.
To get an easier to read momentum indicator, I smoothed the momentum out and paired it next to a short term RMA. These two together form the ribbon that will show you early reversals and trend direction. The long moving average is used as an overall trend detector and confirmation for longer term trends.
***HOW TO USE*** Scalping: Enter longs when the ribbon turns green and enter shorts when the ribbon turns red. Exit positions when the ribbon turns the opposite color or crosses the long moving average.
Swing Trading: When the ribbon holds above the long moving average or breaks out and retests it, look for long positions and exit when the ribbon turns red or crosses the long moving average. When the ribbon holds below the long moving average or breaks down and retests it, look for short positions and exit when the ribbon turns green or crosses the long moving average.
***DETAILS*** This indicator gives early reversal signals very well and waiting for the momentum ribbon to cross the long moving average helps to get you into positions when the market is ready to really move while filtering out some of the noise.
The ribbon and background will change to green or red depending on whether it is currently bullish or bearish.
There is also a label that changes colors and tells you if momentum is bullish or bearish and also whether the momentum ribbon is above or below the long moving average.
Green or red circles will appear on the indicator when there is a bullish or bearish cross of the momentum ribbon and the long moving average.
It includes alerts that trigger when momentum is turning bullish/bearish or when the momentum ribbon is crossing the long moving average.
***CUSTOMIZATION*** Each piece of this indicator can be customized to suit your preferences including the momentum source, length, smoothing length, short moving average length and long moving average length. You can also turn off the labels, signals and long moving average. All of these settings can be managed within the indicator settings input tab.
***MARKETS*** This indicator can be used as a signal on all markets, including stocks, crypto, futures and forex.
***TIMEFRAMES*** This Momentum Scalping & Swing Signals indicator can be used on all timeframes.
***TIPS*** Try using numerous indicators of ours on your chart so you can instantly see the bullish or bearish trend of multiple indicators in real time without having to analyze the data. Some of our favorites are Trend Friend Scalp & Swing Trade Signals, Volume Spike Scanner, Buy & Sell Pressure Volume Profile, and RSI Scalper in combination with this momentum indicator. They all have real time Bullish and Bearish labels as well so you can immediately understand each indicator's trend.
Hello, I don't have the same graph as you it's all flat sorry I didn't see the previous comment
Ivertrade
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Many thanks for this, it looks really good and tidy. The only problem I have is that I can not see the ribbon? evrey thing else is good. tried expanding the chart as you suggest in the instruction but no ribbon ? Any ideas ? thanks Cliff
FriendOfTheTrend
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@Ivertrade, Momentum can swing wildly and tradingview automatically zooms out on the data so that the indicator pane will show the highest and lowest points. So just zoom in on the right hand side data bar at the zero mark until you see the ribbon expand.
Ivertrade
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@FriendOfTheTrend, Thank for sharing this. I understand now about the ribbon and have expanded it as you have explained, thank you. Very neat and fast, it goes very well with another momentum indicator displaying on three times frames. Your indicator also gives a quick visual for a quick look at the state of the currency pairs.Very clever. Thanks Again
I don't have the same graph as you
it's all flat
sorry I didn't see the previous comment