OPEN-SOURCE SCRIPT
已更新 Momentum Index [BigBeluga]

The Momentum Index is an innovative indicator designed to measure the momentum of price action by analyzing the distribution of positive and negative momentum values over a defined period. By incorporating delta-based calculations and smoothing techniques, it provides traders with a clear and actionable representation of market momentum dynamics.
🔵 Key Features:
Delta-Based Momentum Analysis:
Directional Momentum Signals:
Dynamic Gradient Display:
Dashboard Display:
🔵 How It Works:
🔵 Use Cases:
Momentum Index [BigBeluga] offers a refined approach to analyzing momentum dynamics, combining delta-based calculations with smoothing techniques and intuitive visuals, making it an essential tool for traders looking to anticipate market movements effectively.
🔵 Key Features:
Delta-Based Momentum Analysis:
- Calculates the momentum of price by comparing its current state to its value from a defined number of bars back.
- Inside a loop, it evaluates whether momentum values are above or below zero, producing a delta value that reflects the net momentum direction and intensity.
Double EMA Smoothing: - Smooths the raw delta-based momentum values with a double EMA filter, reducing noise and providing a clearer trend signal.
Pine Script® tmi(len) => sum = 0.0 sum1 = 0.0 above = 0.0 below = 0.0 src_ = src - src[len] for i = 0 to len sum := sum + (src_ > nz(src_) ? 1 : -1) sum1 := sum1 + (sum > 0 ? 1 : -1) sum1 := emaEma(sum1, 10) for i = 1 to len above := above + (sum1 > 0 ? 1 : 0) below := below + (sum1 > 0 ? 0 : 1) [sum1, above, below]
Directional Momentum Signals:
- Generates momentum shift signals and displays them on both the oscillator and the main chart:
- △ Aqua Triangles: Represent upward momentum shifts.
- ▽ Red Triangles: Represent downward momentum shifts.
Dynamic Gradient Display:
- Highlights momentum zones with gradient fills:
- Aqua shades for positive momentum (above zero).
- Red shades for negative momentum (below zero).
Dashboard Display:
- A dashboard summarizing the count of momentum values above and below zero for the defined period (Sentiment Length e.g. 100), helping traders assess market sentiment at a glance.
🔵 How It Works:
- The indicator takes price momentum as its source and evaluates the number of momentum values above and below zero within a defined period.
- The delta calculation aggregates this information, providing a net representation of the prevailing market momentum.
- A double EMA filter is applied to the delta values, smoothing the momentum line and enhancing signal clarity.
- Momentum shifts are highlighted with visual signals on the oscillator and price chart, while the gradient display provides a visual representation of intensity.
🔵 Use Cases:
- Momentum Tracking: Identify whether market momentum is predominantly bullish or bearish.
- Signal Confirmation: Use chart-based signals to confirm potential trend reversals or continuation.
- Analyze Market Strength: Leverage the dashboard to quickly assess the distribution of momentum over the chosen period.
- Overbought/Oversold Conditions: Utilize gradient zones to detect areas of momentum extremes and possible price exhaustion.
Momentum Index [BigBeluga] offers a refined approach to analyzing momentum dynamics, combining delta-based calculations with smoothing techniques and intuitive visuals, making it an essential tool for traders looking to anticipate market movements effectively.
版本注释
- Dashboard bars value开源脚本
本着TradingView的真正精神,此脚本的创建者将其开源,以便交易者可以查看和验证其功能。向作者致敬!虽然您可以免费使用它,但请记住,重新发布代码必须遵守我们的网站规则。
🔵Gain access to our powerful tools : bigbeluga.com
🔵Join our free discord for updates : bigbeluga.com/discord
All scripts & content provided by BigBeluga are for informational & educational purposes only.
🔵Join our free discord for updates : bigbeluga.com/discord
All scripts & content provided by BigBeluga are for informational & educational purposes only.
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神,此脚本的创建者将其开源,以便交易者可以查看和验证其功能。向作者致敬!虽然您可以免费使用它,但请记住,重新发布代码必须遵守我们的网站规则。
🔵Gain access to our powerful tools : bigbeluga.com
🔵Join our free discord for updates : bigbeluga.com/discord
All scripts & content provided by BigBeluga are for informational & educational purposes only.
🔵Join our free discord for updates : bigbeluga.com/discord
All scripts & content provided by BigBeluga are for informational & educational purposes only.
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。