PROTECTED SOURCE SCRIPT
Trend Momentum Algorithm
This algorithm comes from 2 inverse fisher transforms of a williams %R. After experimenting. I found that this is useful to understand the momentum of chart.
If green, only look for buy opportunities, if red, look for sells. If gray, look for whatever the previous colour was.
Can be useful with divergence. I'd look at a lower timeframe for confirmation (if divergence suggests turning bearish look for red on a lower timeframe. Be aware of the momentum on the timeframe above)
I put a tolerance filer on to help remove any smaller spikes. The larger the tolerance the less inaccuracies you will have but see the start of an new trend later.
This is a fun tool. Enjoy
If green, only look for buy opportunities, if red, look for sells. If gray, look for whatever the previous colour was.
Can be useful with divergence. I'd look at a lower timeframe for confirmation (if divergence suggests turning bearish look for red on a lower timeframe. Be aware of the momentum on the timeframe above)
I put a tolerance filer on to help remove any smaller spikes. The larger the tolerance the less inaccuracies you will have but see the start of an new trend later.
This is a fun tool. Enjoy
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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。