MAG 7 - Weighted Multi-Symbol Momentum + ExtrasOverview
This indicator aggregates the percentage change of multiple symbols into a single “weighted momentum” value. You can set individual weights to emphasize or de-emphasize particular stocks. The script plots two key items:
The default tickers in the script are:
AAPL (Apple)
AMZN (Amazon)
NVDA (NVIDIA)
MSFT (Microsoft)
GOOGL (Alphabet/Google)
TSLA (Tesla)
META (Meta Platforms/Facebook)
Raw Weighted Momentum (Histogram):
Each bar represents the combined (weighted) percentage change across your chosen symbols for that bar.
Bars are colored green if the momentum is above zero, or red if below zero.
Smoothed Momentum (Yellow Line):
An Exponential Moving Average (EMA) of the raw momentum for a smoother trend view.
Helps visualize when short-term momentum is accelerating or decelerating relative to its average.
Features
Symbol Inputs: Up to seven user-defined tickers, with weights for each symbol.
Smoothing Period: Set a custom lookback length to calculate the EMA (or switch to SMA in the code if you prefer).
Table Display: A built-in table in the top-right corner lists each symbol’s real-time percentage change, plus the total weighted momentum.
Alerts:
Configure alerts for when the weighted momentum crosses above or below user-defined thresholds.
Helps you catch major shifts in sentiment across multiple symbols.
How To Use
Select Symbols & Weights: In the indicator’s settings, specify the tickers you want to monitor and their corresponding weights. Weights default to 1 (equal weighting).
Watch the Bars vs. Zero:
Bars above zero mean a positive weighted momentum (the basket is collectively moving up).
Bars below zero mean negative weighted momentum (the basket is collectively under pressure).
Check the Yellow Line: The EMA of momentum.
If the bars consistently stay above the line, short-term momentum is stronger than its recent average.
If the bars dip below the line, momentum is weakening relative to its average.
Review the Table: Quick snapshot of each symbol’s daily percentage change plus the total basket momentum, all color-coded red or green.
Caution & Tips
This indicator measures rate of change, not absolute price levels. A rising momentum can still be part of a larger downtrend.
Always combine momentum readings with other technical and/or fundamental signals for confirmation.
For better reliability, experiment with different smoothing lengths to suit your trading style (shorter for scalping, longer for swing or positional approaches).
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DeNoised Momentum [OmegaTools]The DeNoised Momentum by OmegaTools is a versatile tool designed to help traders evaluate momentum, acceleration, and noise-reduction levels in price movements. Using advanced mathematical smoothing techniques, this script provides a "de-noised" view of momentum by applying filters to reduce market noise. This helps traders gain insights into the strength and direction of price trends without the distractions of market volatility. Key components include a DeNoised Moving Average (MA), a Momentum line, and Acceleration bars to identify trend shifts more clearly.
Features:
- Momentum Line: Measures the percentage change of the de-noised source price over a specified look-back period, providing insights into trend direction.
- Acceleration (Ret) Bars: Visualizes the rate of change of the source price, helping traders identify momentum shifts.
- Normal and DeNoised Moving Averages: Two moving averages, one based on close price (Normal MA) and the other on de-noised data (DeNoised MA), enable a comparison of smoothed trends versus typical price movements.
- DeNoised Price Data Plot: Displays the current de-noised price, color-coded to indicate the relationship between the Normal and DeNoised MAs, which highlights bullish or bearish conditions.
Script Inputs:
- Length (lnt): Sets the period for calculations (default: 21). It influences the sensitivity of the momentum and moving averages. Higher values will smooth the indicator further, while lower values increase sensitivity to price changes.
The Length does not change the formula of the DeNoised Price Data, it only affects the indicators calculated on it.
Indicator Components:
1. Momentum (Blue/Red Line):
- Calculated using the log of the percentage change over the specified period.
- Blue color indicates positive momentum; red indicates negative momentum.
2. Acceleration (Gray Columns):
- Measures the short-term rate of change in momentum, shown as semi-transparent gray columns.
3. Moving Averages:
- Normal MA (Purple): A standard simple moving average (SMA) based on the close price over the selected period.
- DeNoised MA (Gray): An SMA of the de-noised source, reducing the effect of market noise.
4. DeNoised Price Data:
- Represented as colored circles, with blue indicating that the Normal MA is above the DeNoised MA (bullish) and red indicating the opposite (bearish).
Usage Guide:
1. Trend Identification:
- Use the Momentum line to assess overall trend direction. Positive values indicate upward momentum, while negative values signal downward momentum.
- Compare the Normal and DeNoised MAs: when the Normal MA is above the DeNoised MA, it indicates a bullish trend, and vice versa for bearish trends.
2. Entry and Exit Signals:
- A change in the Momentum line's color from blue to red (or vice versa) may indicate potential entry or exit points.
- Observe the DeNoised Price Data circles for early signs of a trend reversal based on the interaction between the Normal and DeNoised MAs.
3. Volatility and Noise Reduction:
- By utilizing the DeNoised MA and de-noised price data, this indicator helps filter out minor fluctuations and focus on larger price movements, improving decision-making in volatile markets.
Range Tightening Indicator (RTI)The Range Tightening Indicator (RTI) quantifies price volatility relative to recent price action, helping traders identify low-volatility consolidations that often precede breakouts.
Range Tightening is calculated by measuring the range between each bar’s high and low prices over a chosen lookback period.
A 5-bar period is recommended for shorter-term momentum setups and a 15-bar period is recommended for swing trading. An option for a custom period is available to suit specific strategies. The default look back for custom is 50, ideal for longer term traders.
Other Key Features:
Dynamic Color Coding: The RTI line turns green when volatility doubles after a drop to or below 20, flagging significant volatility shifts commonly seen before breakouts.
Low-Volatility Dots: Orange dots appear on the RTI line when two or more consecutive bars show RTI values below 20, visually marking extended low-volatility periods.
Volatility Zones: Shaded zones provide quick context:
Zone 1 (0-5): Extremely tight volatility, shown in red.
Zone 2 (5-10): Low volatility, shown in light green.
Zone 3 (10-15): Moderate low volatility, shown in green.
The RTI indicator is ideal for traders looking to anticipate breakout conditions, with features that highlight consolidation phases, support momentum strategies, and help improve entry timing by focusing on shifts in volatility.
This indicator was inspired after Deepvue's RMV Indicator, but uses a different calculation. Results may vary.
Aggressor Volume ImbalanceAggressor volume imbalance represents the ratio between market aggressor buy volume (market buy orders) and market aggressor sell volume (market sell orders). This ratio enables traders to evaluate the interest of market aggressors and whether aggressive market activity favours the price's direction.
Analysing aggressor volume is critical in understanding market sentiment and aids in identifying shifts in momentum and potential exhaustion points in the market. When the aggressor buy volume significantly exceeds the sell volume, it typically indicates strong buying interest, driving prices higher if the offer-side liquidity cannot contain it, and vice versa.
How it Works
The imbalance ratio is calculated as follows, according to the selected session timeframe (see settings):
imbalance := ((buyVolumeAccumulator - sellVolumeAccumulator)
/ (buyVolumeAccumulator + sellVolumeAccumulator)) * 100
Aggressive Volume Imbalance uses lower timeframe historical data to calculate Historical Aggressor Volume Imbalances, while live data is used for live aggressor volume imbalances.
How to Use It
You can set the indicator to use any historical data timeframe you prefer. However, it is highly recommended to use lower timeframes (e.g., 1 second), as the lower the timeframe, the more granular the data.
The indicator resets to 0% whenever a new session timeframe begins (e.g., a new day) and calculates new values for the rest of the session. This can be configured in the settings.
Shadow Range IndexShadow Range Index (SRI) introduces a new concept to calculate momentum, shadow range.
What is range?
Traditionally, True Range (TR) is the current high minus the current low of each bar in the timeframe. This is often used successfully on its own in indicators, or as a moving average in ATR (Average True Range).
To calculate range, SRI uses an innovative calculation of current bar range that also considers the previous bar. It calculates the difference between its maximum upward and maximum downward values over the number of bars the user chooses (by adjusting ‘Range lookback’).
What is shadow range?
True Range (TR) uses elements in its calculation (the highs and lows of the bar) that are also visible on the chart bars. Shadow range does not, though.
SRI calculates shadow range in a similar formula to range, except that this time it works out the difference between the minimum upward and minimum downward movement. This movement is by its nature less than the maximums, hence a shadow of it. Although more subtle, shadow range is significant, because it is quantifiable, and goes in one direction or another.
Finally, SRI smoothes shadow range and plots it as a histogram, and also smoothes and plots range as a signal line. Useful up and down triangles show trend changes, which optionally colour the chart bars.
Here’s an example of a long trade setup:
In summary, Shadow Range Index identifies and traces maximum and minimum bar range movement both up and down, and plots them as centred oscillators. The dynamics between the two can provide insights into the chart's performance and future direction.
Credit to these authors, whose MA or filters form part of this script:
@balipour - Super Smoother MA
@cheatcountry - Hann window smoothing
@AlgoAlpha - Gaussian filter
FX DispersionThis script calculates the dispersion of a basket of 5 FX pairs and then calculates the z-score the z-score is then made into a composite using the 30 and 60 ema of the z-score to smooth any noise. It must be used on one of the FX pairs in the basket and on the 1-minute timeframe as it has been hardcoded for 1 min use below.
Interpretation - Dispersion is a component of volatility - the dispersion of the underlying basket increases above 0.5 and decreases below 0.5.
Although increased dispersion is beneficial to momentum and trend-following strategies on the monthly and weekly timeframes. Observe this on the 1-minute timeframe and how dispersion crossing above/ below 0.5 it can signal reversion or momentum for the next period.
TASC 2023.12 Growth and Value Switching System█ OVERVIEW
This script implements a rotation system for trading value and growth ETFs, as developed by Markos Katsanos and detailed in the article titled 'Growth Or Value?' in TASC's December 2023 edition of Traders' Tips . The purpose of this script is to demonstrate how short-term momentum can be employed to track market trends and provide clarity on when to switch between value and growth.
█ CONCEPTS
The central concept of the presented rotation strategy is based on the observation that the stock market undergoes cycles favoring either growth or value stocks. Consequently, the script introduces a momentum trading system that is designed to switch between value and growth equities based on prevailing market conditions. Specifically tailored for long-term index investors, the system focuses on trading Vanguard's value and growth ETFs ( VTV and VUG ) on a weekly timeframe.
To identify the ETF likely to outperform, the script uses a custom relative strength indicator applied to both VTV and VUG in comparison with an index ( SPY ). To minimize risk and drawdowns during bear markets, when both value and growth experience downtrends, the script employs the author's custom volume flow indicator (VFI) and blocks trades when its reading indicates money outflow . Positions are closed if the relative strength of the current open trade ETF falls below that of the other ETF for two consecutive weeks and is also below its moving average. Additionally, the script implements a stop-loss when the ETF is trading below its 40-week moving average, but only during bear markets.
The script plots the relative strengths of the value and growth equities along with the signals triggered by the aforementioned rules. Information about the current readings of the relative strength and volume flow indicators, along with the current open position, is displayed in a table.
█ CALCULATIONS
The script uses the request.security() function to gather price data for both equities and the reference index. Custom relative strength and volume flow indicators are calculated based on the formulas presented in the original article. By default, the script employs the same parameters for these indicators as proposed in the original article for VTV and VUG on a weekly timeframe.
Machine Learning Momentum Oscillator [ChartPrime]The Machine Learning Momentum Oscillator brings together the K-Nearest Neighbors (KNN) algorithm and the predictive strength of the Tactical Sector Indicator (TSI) Momentum. This unique oscillator not only uses the insights from TSI Momentum but also taps into the power of machine learning therefore being designed to give traders a more comprehensive view of market momentum.
At its core, the Machine Learning Momentum Oscillator blends TSI Momentum with the capabilities of the KNN algorithm. Introducing KNN logic allows for better handling of noise in the data set. The TSI Momentum is known for understanding how strong trends are and which direction they're headed, and now, with the added layer of machine learning, we're able to offer a deeper perspective on market trends. This is a fairly classical when it comes to visuals and trading.
Green bars show the trader when the asset is in an uptrend. On the flip side, red bars mean things are heading down, signaling a bearish movement driven by selling pressure. These color cues make it easier to catch the sentiment and direction of the market in a glance.
Yellow boxes are also displayed by the oscillator. These boxes highlight potential turning points or peaks. When the market comes close to these points, they can provide a heads-up about the possibility of changes in momentum or even a trend reversal, helping a trader make informed choices quickly. These can be looked at as possible reversal areas simply put.
Settings:
Users can adjust the number of neighbours in the KNN algorithm and choose the periods they prefer for analysis. This way, the tool becomes a part of a trader's strategy, adapting to different market conditions as they see fit. Users can also adjust the smoothing used by the oscillator via the smoothing input.
Support and Resistance Oscillator [CC]The Support and Resistance Oscillator is an experimental script I created to identify when the current price breaks a support or resistance line and reflect this value in an oscillator formula. This indicator uses a threshold to decide the dividing line between buying and selling points. Feel free to change the threshold or smoothing settings to see if you find anything better since this is so experimental. I'm double smoothing the difference between the indicator and its signal line to attempt to capture a combo of the price momentum combined with the general support and resistance levels. I have used dark colors for strong signals and lighter colors for normal signals and make sure to buy when the line turns green and sell when it turns red.
Let me know if there are any other scripts or indicators you would like to see me publish!
WillyCycle Oscillator&DoubleMa/ErkOzi/version 2This oscillator can be customized by adjusting the length of the Willy period, the length of Willy's EMA, and the upper and lower bands. The upper and lower bands help traders identify overbought and oversold conditions.
The WillyCycle Oscillator is a technical analysis tool used to measure the momentum of an asset and identify overbought and oversold conditions based on the price range of a specific period and calculating the percentage of the closing price in that range. The WillyCycle Oscillator consists of two main components: Willy and Willy's EMA. The Willy component is the percentage calculation of the asset's price range, and Willy's EMA is the exponential moving average of the Willy component. Willy's EMA is used to smooth out the Willy component and make it easier to identify trends.
*** When the oscillator is above the 80 level, it indicates that the asset is overbought, and when it is below the 20 level, it indicates that the asset is oversold. Traders can use these levels as a guide for buying and selling signals.
***Traders can also use the WillyCycle Oscillator to identify trend reversals. When the oscillator rises above the 50 level, it signals a potential uptrend, and when it falls below the 50 level, it signals a potential downtrend.
***I have added a smoothed line option to the WillyCycle Oscillator, which allows traders to see a more smoothed version of the oscillator. This option can be enabled by setting the 'smoothed' input to true. The default value for the smoothed line is 15.
***We have also changed the value range of the WillyCycle Oscillator from -100 to 100 to 0 to 100. This change was made to make the oscillator more user-friendly and easier to read.
In conclusion, the WillyCycle Oscillator is a versatile tool that can help traders identify potential trading opportunities and trend reversals. Traders can customize the oscillator to fit their trading style and preferences. Adding a smoothed line and changing the value range can enhance the user experience and make the oscillator easier to use.
Adaptive Fisherized ROCIntroduction
Hello community, here I applied the Inverse Fisher Transform, Ehlers dominant cycle determination and smoothing methods on a simple Rate of Change (ROC) indicator
You have a lot of options to adjust the indicator.
Usage
The rate of change is most often used to measure the change in a security's price over time.
That's why it is a momentum indicator.
When it is positive, prices are accelerating upward; when negative, downward.
It is useable on every timeframe and could be a potential filter for you your trading system.
IMO it could help you to confirm entries or find exits (e.g. you have a long open, roc goes negative, you exit).
If you use a trend-following strategy, you could maybe look out for red zones in an in uptrend or green zones in a downtrend to confirm your entry on a pullback.
Signals
ROC above 0 => confirms bullish trend
ROC below 0 => confirms bearish trend
ROC hovers near 0 => price is consolidating
Enjoy! 🚀
StockBee 4% BreakoutThe Stockbee 4% Breakout script is a study tool for users who wants to do a deep dive on StockBee's 4% Breakout momentum burst method. This script will assist a specific group of traders who trade this method easily find historical momentum bursts. This script finds and colors red any candle body that meets the following criteria:
1. Volume of the candle is greater than the previous candle volume.
2. The percent change of candle's price is greater than 4% from the previous candle close.
3. Current candle close is less than 30% from candle's high.
This script also filters out any candle that gaps up and breaks down with a close above 4% the previous candle (Eliminates gap-ups that fade). This tool is meant to find and filter possible candidates. Not every marked candle is a great momentum burst trade.
This is very helpful for Trading View users trading this specific setup.
Delta-RSI Strategy (with filters)Delta-RSI Strategy (with filters):
This is a version of the Delta-RSI Oscillator strategy with several criteria available to filter entry and exit signals. This script is also suitable for backtesting over a user-defined period and offers several risk management options (take profit and stop loss).
Since the publication of the Delta-RSI Oscillator script, I have been asked many times to make it compatible with the Strategy Tester and add filtering criteria to minimize "false" signals. This version covers many of these requests. Feel free to insert your favorite D-RSI parameters and play around!
ABOUT DELTA-RSI
Delta-RSI represents a smoothed time derivative of the RSI designed as a momentum indicator (see links below):
INPUT DESCTIPTION
MODEL PARAMETERS
Polynomial Order : The order of local polynomial used to interpolate the relative strength index (RSI).
Length : The length of the lookback frame where local regression is applied.
RSI Length : The timeframe of RSI used as input.
Signal Length : The signal line is a EMA of the D-RSI time series. This input parameter defines the EMA length.
ALLOWED ENTRIES
The strategy can include long entries, short entries or both.
ENTRY AND EXIT CONDITIONS
Zero-crossing : bullish trade signal triggered when D-RSI crosses zero from negative to positive values (bearish otherwise)
Signal Line Crossing : bullish trade signal triggered when D-RSI crosses from below to above the signal line (bearish otherwise)
Direction Change : bullish trade signal triggered when D-RSI was negative and starts ascending (bearish otherwise)
APPLY FILTERS TO
The filters (described below) can be applied to long entry, short entry and exit signals.
RELATIVE VOLUME FILTER
When activated, the D-RSI-driven entries and exits will be triggered only if the current volume is greater than N times the average over the last M bars.
VOLATILITY FILTER
When activated, the D-RSI-driven entries and exits will be triggered only if the N-period average true range, ATR, is greater than the M-period ATR. If N < M, this condition implies increasing volatility.
OVERBOUGHT/OVERSOLD FILTER
When activated, the D-RSI-driven entries and exits will be triggered only if the value of 14-period RSI is in the range between N and M.
STOP LOSS/TAKE PROFIT
Fixed and trailing stop loss as well as take profit options are available.
FIXED BACKTESTING START/END DATES
If the checkboxes are not checked, the strategy will backtest all available price bars.
+ BB %B: MA selection, bar coloring, multi-timeframe, and alerts+ %B is, at its simplest, the classic Bollinger Bands %B indicator with a few added bells and whistles.
However, the right combination of bells and whistles will often improve and make a more adaptable indicator.
Classically, Bollinger Bands %B is an indicator that measures volatility, and the momentum and strength of a trend, and/or price movements.
It shows "overbought" and "oversold" spots on a chart, and is also useful for identifying divergences between price and trend (similar to RSI).
With + %B I've added the options to select one or two moving averages, candle coloring, and a host of others.
Let's start with the moving averages:
There are options for two: one faster and one slower. Or combine them how you will, or omit one or both of them entirely.
Here you will find options for SMA, EMA (as well as double and triple), Hull MA, Jurik MA, Least Squares MA, Triangular MA, Volatility Adjusted MA, and Weighted MA.
A moving average essentially helps to define trend by smoothing the noise of movements of the underlying asset, or, in this case, the output of the indicator.
All of these MAs available track this in a different way, and it's up to the trader to figure out which makes most sense to him/her.
MA's, in my opinion, improve the basic %B by providing a clearer picture of what the indicator is actually "seeing", and may be useful for providing entries and exits.
Next up is candle coloring:
I've added the option for this indicator to color candles on the chart based on where the %B is in relation to its upper and lower bounds, and median line.
If the %B is above the median but below the upper bound, candles will be green (showing bullish market structure). If %B is below the median but above the lower bound, candles will be red (denoting bearish market structure).
Overbought and oversold candles will also be colored on the chart, so that a quick glance will tell you whether price action is bullish/bearish or "oversold"/"overbought".
I've also added functionality that enables candles to be colored based on if the %B has crossed up or crossed down the primary moving average.
One example as a way to potentially use these features is if the candles are showing oversold coloration followed by the %B crossing up your moving average coloration. You might consider a long there (or exit a short position if you are short).
And the last couple of tweaks:
You may set the timeframe to whatever you wish, so maybe you're trading on the hourly, but you want to know where the %B is on the 4h chart. You can do that.
The background fill for the indicator is split into bullish and bearish halves. Obviously you may turn the background off, or make it all one color as well.
I've also added alerts, so you may set alerts for "overbought" and "oversold" conditions.
You may also set alerts for %B crossing over or under the primary moving average, or for crossing the median line.
All of these things may be turned on and off. You can pretty much customize this to your heart's delight. I see no reason why anyone would use the standard %B after playing with this.
I am no coder. I had this idea in my head, though, and I made it happen through referencing another indicator I was familiar with, and watching tutorials on YouTube.
Credits:
Firstly, thanks to www.tradingview.com for his brilliant, free tutorials on YouTube.
Secondly, thanks to www.tradingview.com for his beautiful SSL Hybrid indicator (and his clean code) from which I obtained the MAs.
Please enjoy this indicator, and I hope that it serves you well. :)
Customizable Percentage Price Oscillator (PPO)The PPO is basically the MACD but in percentage terms. This is better for comparing momentum across different securities.
This script is a standard PPO but with many options for customization. You can set the moving average type of the signal and the oscillator lines separately. You can also weight any moving average of the PPO by volume.
Supported Types of MA:
SMA
EMA
ALMA
HMA
WMA
Personally, I believe weighting by volume is helpful across markets but especially helpful for equities. I like to use 3,10,16 settings similar to Linda Raschke but with EMA instead of SMA. This indicator is especially useful for signaling trend continuation and generating exit signals. For entries, I believe this indicator should not be blindly followed and works better when combined with a trend or price action signal.
If there are requests for more types of moving average to be used with the PPO, I would be down to implement them, but I believe most moving averages are pretty similar.
Smooth First Derivative IndicatorIntroducing the Smooth First Derivative indicator. For each time step, the script numerically differentiates the price data using prior datapoints from the look-back window. The resulting time derivative (the rate of price change over time) is presented as a centered oscillator.
A first derivative is a versatile tool used in functional data analysis. When applied to price data, it can be applied to analyze momentum, confirm trend direction, and identify pivot points.
Model Description:
The model assumes that, within the look-back window, price data can be well approximated by a smooth differentiable function. The first derivative can then be computed numerically using a noise-robust one-sided differentiator. The current version of the script employs smooth differentiators developed by P. Holoborodko (www.holoborodko.com). Note that the Indicator should not be confused with Constance Brown's Derivative Oscillator.
Input parameter:
The Bandwidth parameter sets the number of points in the moving look-back window and thus determines the smoothness of the first derivative curve. Note that a smoother Indicator shows a greater lag.
Interpretation:
When using this Indicator, one should recall that the first derivative can simply be interpreted as the slope of the curve:
- The maximum (minimum) in the Indicator corresponds to the point at which the market experiences the maximum upward (downward) slope, i.e., the inflection point. The steeper the slope, the greater the Indicator value.
- The positive-to-negative zero-crossing in the Indicator suggests that the market has formed a local maximum (potential start of a downtrend or a period of consolidation). Likewise, a zero-crossing from negative to positive is a potential bullish signal.
MA MTF Momentum HistogramMy own interpretation indicator which i call multi time frame moving averages momentum with NO LAG EMA support (Optional).
The indicator is calculated by subtracting the long-term EMA from the short-term EMA .
This pretty much resembles the MACD moving averages calculation but without the smoothing of the histogram.
Can also be used to find divergences.
The background shows the main trend with higher time frame which can be set in the settings.
Aimed to use with Higher time frame (Double or more) but can also work with lower time frame.
How to use the indicator?
==Histogram==
Green: Momentum of asset is positive and increasing.
Lighter Green: Momentum of asset is still positive but decreasing and can revert to negative momentum.
Red: Momentum of asset is negative and increasing.
Lighter Red: Momentum of asset is still negative but increasing and revert to positive momentum.
==Background Color - Main Trend==
Green: HTF (Higher time frame) momentum is positive.
RED: HTF momentum is negative.
Feel free to comment and Follow to stay updated with upcoming scripts: www.tradingview.com
NOTE: BARS ARE COLORED BY DEFAULT WITH HISTOGRAM COLORS! (Can be changed in settings)
Stochastic Heat MapA series of 28 stochastic oscillators plotted horizontally and stacked vertically from bottom to top as the oscillator background.
Each oscillator has been interpreted and the value has been used to colour the lines in.
Lower lines are shorter term stochastics and higher lines are longer term stochastics.
The average of the 28 stochastics has been taken and then used to plot the fast oscillator line, which also has a slow oscillator line to follow.
The oscillator line can be used to colour in the candles.
Inputs:
MA: multiple smoothing methods
Theme: multiple colours
Increment: stochastic length start and increments
Smooth Fast: smooth fast length
Smooth Slow: smooth slow length
Paint Bars: colour candles
Waves: toggle method to weight/increment stochastics
Heat map shows momentum extremes:
Trend Lines for RSI, CCI, Momentum, OBVHello Traders!
After publishing Trend Lines for RSI yesterday, I realized that Trend Lines for more indicators needed by the traders. so I decided to make it for four different indicators: RSI, CCI, OBV, Momentum
In the indicator options you can choose the indicator from pull-down menu.
How it works?
- On each bar it finds last 10 higher and lower Pivot Points (PP) for the indicator.
- from first bar to 10. Pivot Point it searchs if a trend line is possible
- for each PP it starts searching from the last PP .
- it checks if drawing a trend line possible or not and also it's broken or not
- if it's broken then optionally it shows broken trend lines as dotted (or you can option not to see broken lines)
- if it finds a continues trend line then it stops searhing more and draw trend line, this is done by checking angles (I did this to make the script faster, otherwise you may get error because of it needs time more than .2sec)
- the script makes this process for each PP
- then shows the trend lines
P.S. it may need 3-10 seconds when you added the script to the chart at first (because of calculations)
Trend lines for CCI:
Trend Lines for OBV
Trend Lines for Momentum:
You may want to watch how Trend Lines script works (that was made for RSI)
s3.tradingview.com
If you still didn't see Trend Lines v2 then visit:
All Comments are welcome..
Enjoy!
[BTX] TRIX + MA combined indicator (open version)This indicator combines TRIX and MA of TRIX in one. You can choose which type of moving average line to be used (EMA or SMA).
Default values are 12 periods for TRIX and 10 periods for MA/TRIX, which helps better response to price movement.
This indicator can use in all markets, all timeframes. This is an update to my indicator, which is a protected script. You can find it at the link: .
What is the TRIX (Triple Exponential Average) indicator?
TRIX is a momentum oscillator that displays the percent rate of change of a triple exponentially smoothed moving average. It was developed in the early 1980s by Jack Hutson, an editor for 'Technical Analysis of Stocks and Commodities' magazine. With its triple smoothing, TRIX is designed to filter out insignificant price movements. Chartists can use TRIX to generate signals similar to MACD. A signal line can be applied to look for signal line crossovers. A directional bias can be determined with the absolute level. Bullish and bearish divergences can be used to anticipate reversals.
McClellan Oscillator [LazyBear]Developed by Sherman and Marian McClellan, the McClellan Oscillator is a breadth indicator derived from Net Advances, the number of advancing issues less the number of declining issues. Subtracting the 39-day exponential moving average of Net Advances from the 19-day exponential moving average of Net Advances forms the oscillator.
As the formula reveals, the McClellan Oscillator is a momentum indicator that works similar to MACD.
McClellan Oscillator signals can be generated with breadth thrusts, centerline crossovers, overall levels and divergences.
I have added the following options:
- Can choose Advancing/Declining issues of any market. Default is NYSE.
- Can show the EMAs and/or oscillator.
- Ratio Adjusted Calculation mode (as explained in the stockcharts link below) or default mode.
- Can use custom timeframe. Default is chart timeframe.
More info:
stockcharts.com
Complete list of my indicators:
docs.google.com
Thanks @mpinky for pointing out the StockCharts version of this oscillator.
Fat Tony's Composite Momentum Histogram (v01)Fat Tony's Composite Momentum Histogram (v01)
Overview
Fat Tony's Composite Momentum Histogram (v01) is a sophisticated momentum oscillator that combines four powerful technical analysis components into a single, unified signal. Unlike traditional single-indicator approaches, this tool synthesizes Williams %R, Stochastic, MACD Histogram, and Rate of Change to provide a comprehensive view of momentum across multiple timeframes and calculation methods.
The indicator displays as a histogram that oscillates between -150 and +150, with overbought/oversold zones clearly marked at +100/-100. When momentum crosses above the oversold level with sufficient volume, a green triangle appears below the histogram signaling a potential long entry. Conversely, when momentum crosses below the overbought level, a red triangle appears above signaling a potential short entry.
What Makes This Different
Multi-Component Synthesis: Rather than relying on a single momentum calculation, this indicator averages four complementary momentum measures, each capturing different aspects of price action:
Williams %R captures overbought/oversold conditions
Stochastic tracks momentum relative to recent price range
MACD Histogram shows trend strength and potential reversals
Rate of Change measures velocity of price movement, normalized by volatility
Intelligent Volume Weighting: The indicator amplifies signals when volume confirms the move. Recent volume is compared to a 20-bar average using a logarithmic scale, preventing extreme spikes from distorting the signal while still rewarding genuine volume-backed momentum.
Adaptive Normalization: The MACD component uses a 200-bar standard deviation to adaptively scale itself, ensuring the indicator remains responsive across different market conditions and volatility regimes.
Volume Filtering: Optional minimum volume threshold (5-bar average) prevents false signals during low-liquidity periods when price moves may not be meaningful.
Key Features
Composite Signal: Combines four momentum indicators into one cohesive oscillator
Volume Confirmation: Optional volume weighting amplifies signals backed by strong participation
Trend Filter: Optional EMA-200 filter to trade only with the dominant trend
Visual Clarity: Color-coded histogram (blue for positive, orange for negative, red/green at extremes)
Automatic Alerts: Built-in alerts for entry and exit signals
Customizable Thresholds: Adjust overbought/oversold levels to match your trading style
ROC Toggle: Enable/disable the Rate of Change component based on your preference
Debug Mode: View individual component plots for fine-tuning and validation
Settings & Customization
Momentum Settings
Length (default: 14): Primary calculation period for Williams %R and Stochastic
MACD Fast (default: 12): Fast EMA period for MACD calculation
MACD Slow (default: 26): Slow EMA period for MACD calculation
MACD Signal (default: 9): Signal line period for MACD
ROC Length (default: 10): Lookback period for Rate of Change calculation
MACD StDev Length (default: 200): Period for adaptive MACD normalization
Levels
Overbought Level (default: 100): Threshold for short signals
Oversold Level (default: -100): Threshold for long signals
Volume Settings
Enable Volume Weighting (default: ON): Amplifies signals when volume confirms
Volume Sensitivity (default: 1.5): Controls strength of volume impact (0.5-3.0)
Min Avg Volume (default: 50,000): Minimum 5-bar average volume to trigger signals
Components
Include ROC Component (default: ON): Adds Rate of Change to the composite
Enable Trend Filter (default: OFF): Only signals aligned with EMA-200 trend
Show Component Plots (default: OFF): Display individual components for analysis
How to Use
Basic Signal Interpretation:
Green triangle below histogram = Long signal (momentum crossing up through oversold)
Red triangle above histogram = Short signal (momentum crossing down through overbought)
Histogram color indicates momentum direction and strength
Background shading highlights extreme overbought/oversold zones
Entry Strategy:
Wait for the histogram to enter oversold territory (below -100) for longs, or overbought (above +100) for shorts
Look for the entry signal (triangle) when momentum crosses back through the threshold
Confirm the signal occurs with adequate volume (if volume filter is enabled)
Consider the trend filter if trading with the dominant direction only
Exit Strategy:
Optional exit signals appear when momentum crosses the zero line against your position
Consider taking profits at extreme opposite readings (e.g., long exit when reaching +100)
Use price action, support/resistance, or your own risk management for final exits
Fine-Tuning:
Shorter Length settings (8-10): More responsive, more signals, potentially more noise
Longer Length settings (18-21): Smoother signals, fewer false positives, slower response
Higher Volume Sensitivity: Requires stronger volume confirmation
Lower Overbought/Oversold Levels (±80): More frequent signals
Enable Trend Filter: Reduces signals but improves win rate by trading with trend
Best Practices
Combine with Price Action: Use this indicator to confirm what you're seeing on the price chart, not as a standalone system
Respect the Volume Filter: Low-volume signals are often false moves; the volume confirmation is there for a reason
Don't Chase: Wait for signals at extreme levels; entries in the middle zone tend to whipsaw
Use Multiple Timeframes: Check that momentum aligns across your trading timeframe and a higher timeframe
Backtest Your Settings: Default parameters work well on many instruments, but optimization for your specific market and timeframe can improve results
Technical Details
The indicator normalizes each component to a -50 to +50 range before averaging, ensuring equal weighting regardless of the raw scale differences between Williams %R, Stochastic, MACD, and ROC. The MACD component uses a hyperbolic tangent function for smooth, bounded normalization. Volume weighting applies a logarithmic scale to prevent extreme outliers from dominating the calculation while still capturing genuine volume surges.
MCL RSI Conflux v2.5 — Multi-Timeframe Momentum & Z-Score Full Description
Overview
The MCL RSI Conflux v2.5 is a multi-timeframe momentum model that integrates daily, weekly, and monthly RSI values into a unified composite. It extends the classical RSI framework with adaptive overbought/oversold thresholds and statistical normalization (Z-score confluence).
This combination allows traders to visualize cross-timeframe alignment, identify synchronized momentum shifts, and detect exhaustion zones with higher statistical confidence.
Methodology
The script extracts RSI data from three major time horizons:
Daily RSI (short-term momentum)
Weekly RSI (intermediate trend)
Monthly RSI (macro bias)
Each RSI is optionally smoothed, weighted, and aggregated into a Composite RSI.
A Z-score transformation then measures how far each RSI deviates from its historical mean, revealing when momentum strength is statistically extreme or aligned across timeframes.
Key Features
Multi-Timeframe RSI Engine – Computes RSI across D/W/M intervals with individual weighting controls.
Adaptive Overbought/Oversold Bands – Automatically adjusts OB/OS thresholds based on rolling volatility (standard deviation of daily RSI).
Composite RSI Score – Weighted consensus RSI that represents total market momentum.
Z-Score Confluence Analysis – Identifies when all three timeframes are statistically synchronized.
Z-Composite Histogram – Displays aggregated Z-score strength around the midline (50).
Divergence Detection – Flags confirmed pivot-based bull and bear divergences on the daily RSI.
Dynamic Gradient Background – Shifts from red to green based on composite momentum regime.
Customizable Control Panel – Displays RSI values, Z-scores, state, and adaptive bands for each timeframe.
Integrated Alerts – For crossovers, risk-on/off thresholds, alignment, and Z-confluence events.
Interpretation
All RSI values above 50: multi-timeframe bullish alignment.
All RSI values below 50: multi-timeframe bearish alignment.
Composite RSI > 60: risk-on environment; momentum expansion.
Composite RSI < 45: risk-off environment; momentum contraction.
Adaptive OB/OS hits: potential exhaustion or mean reversion setup.
Green Z-ribbon: all Z-scores positive and aligned (statistical confirmation).
Red Z-ribbon: all Z-scores negative and aligned (broad market weakness).
Divergences: short-term warning signals against the prevailing momentum bias.
Practical Application
Use the Composite RSI as a global momentum gauge for position bias.
Trade only in the direction of higher-timeframe alignment (avoid countertrend RSI).
Combine Z-ribbon confirmation with Composite RSI crosses to filter noise.
Use divergence labels and adaptive thresholds for risk reduction or exit timing.
Ideal for swing traders and macro momentum models seeking trend synchronization filters.
Recommended Settings
Market Mode k-Band Lookback Use Case
Stocks / ETFs Adaptive 0.85 200 Medium-term rotation filter
Crypto Adaptive 1.00 150 Volatility-responsive swing filter
Commodities Fixed 70/30 100 Mean reversion model
Alerts Included
Daily RSI crossed above/below Weekly RSI
Composite RSI > Risk-On threshold
Composite RSI < Risk-Off threshold
All RSI aligned above/below 50
Z-Score Conformity (All positive or all negative)
Overbought/Oversold triggers
Author’s Note
This indicator was designed for research and systematic confluence analysis within Mongoose Capital Labs.
It is not financial advice and should be used in combination with independent risk assessment, volume confirmation, and higher-timeframe context.
