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Fat Tony's Composite Momentum + ROC (v0.4)
Fat Tony's Composite Momentum + ROC Indicator
Overview
Fat Tony's Composite Momentum + ROC is a sophisticated momentum oscillator that combines multiple technical indicators into a single, volume-weighted signal. This indicator helps traders identify overbought/oversold conditions and potential reversal points by synthesizing Williams %R, Stochastic, MACD, and Rate of Change (ROC) into one composite reading.
Key Features
Multi-Indicator Composite: Combines Williams %R, Stochastic %K, MACD Histogram, and ROC for a comprehensive momentum view
Volume Weighting: Optional volume-based amplification to filter out low-conviction moves
Volume Filter: Requires minimum volume threshold (last 2 bars combined) before triggering signals
Adaptive MACD Scaling: Uses tanh normalization to keep MACD contribution proportional regardless of price volatility
Clear Visual Signals: Triangle markers appear only when crossing extreme levels with sufficient volume
Customizable Thresholds: Adjust overbought/oversold levels, volume sensitivity, and component lengths
How It Works
The indicator normalizes each component to a ±50 scale, then averages them together. The composite reading oscillates around zero, with positive values indicating bullish momentum and negative values indicating bearish momentum.
Signal Generation:
🟢 Rebound Watch (Green Triangle): Fires when the composite crosses UP through the oversold level with adequate volume
🔴 Fade Watch (Red Triangle): Fires when the composite crosses DOWN through the overbought level with adequate volume
Customizing Settings
After adding to your chart, click the gear icon next to the indicator name to access settings:
Length: Base period for Williams %R and Stochastic (default: 14)
MACD Fast/Slow/Signal: Standard MACD parameters (default: 12/26/9)
Overbought/Oversold Levels: Threshold values for signals (default: ±100)
Use Volume Weighting: Toggle volume amplification on/off
Volume Sensitivity: Multiplier for volume weighting (default: 1.5)
Include ROC: Toggle Rate of Change component on/off
ROC Length: Lookback period for ROC calculation (default: 10)
Minimum Volume: Required volume (sum of last 2 bars) for signals to trigger (default: 50,000)
Usage Tips
Works best on liquid instruments with consistent volume
Lower timeframes (5m-15m) benefit from higher minimum volume settings
Volume weighting helps filter out noise during consolidation periods
Watch for signal triangles at key support/resistance levels for highest probability setups
The indicator works as a momentum gauge and reversal spotter - not an entry system by itself
Alerts
The indicator includes built-in alert conditions:
Click the "⏰" (alarm clock) icon on your chart
Select "Fat Tony's Composite Momentum + ROC"
Choose "Rebound Watch" or "Fade Watch"
Configure your notification preferences
Overview
Fat Tony's Composite Momentum + ROC is a sophisticated momentum oscillator that combines multiple technical indicators into a single, volume-weighted signal. This indicator helps traders identify overbought/oversold conditions and potential reversal points by synthesizing Williams %R, Stochastic, MACD, and Rate of Change (ROC) into one composite reading.
Key Features
Multi-Indicator Composite: Combines Williams %R, Stochastic %K, MACD Histogram, and ROC for a comprehensive momentum view
Volume Weighting: Optional volume-based amplification to filter out low-conviction moves
Volume Filter: Requires minimum volume threshold (last 2 bars combined) before triggering signals
Adaptive MACD Scaling: Uses tanh normalization to keep MACD contribution proportional regardless of price volatility
Clear Visual Signals: Triangle markers appear only when crossing extreme levels with sufficient volume
Customizable Thresholds: Adjust overbought/oversold levels, volume sensitivity, and component lengths
How It Works
The indicator normalizes each component to a ±50 scale, then averages them together. The composite reading oscillates around zero, with positive values indicating bullish momentum and negative values indicating bearish momentum.
Signal Generation:
🟢 Rebound Watch (Green Triangle): Fires when the composite crosses UP through the oversold level with adequate volume
🔴 Fade Watch (Red Triangle): Fires when the composite crosses DOWN through the overbought level with adequate volume
Customizing Settings
After adding to your chart, click the gear icon next to the indicator name to access settings:
Length: Base period for Williams %R and Stochastic (default: 14)
MACD Fast/Slow/Signal: Standard MACD parameters (default: 12/26/9)
Overbought/Oversold Levels: Threshold values for signals (default: ±100)
Use Volume Weighting: Toggle volume amplification on/off
Volume Sensitivity: Multiplier for volume weighting (default: 1.5)
Include ROC: Toggle Rate of Change component on/off
ROC Length: Lookback period for ROC calculation (default: 10)
Minimum Volume: Required volume (sum of last 2 bars) for signals to trigger (default: 50,000)
Usage Tips
Works best on liquid instruments with consistent volume
Lower timeframes (5m-15m) benefit from higher minimum volume settings
Volume weighting helps filter out noise during consolidation periods
Watch for signal triangles at key support/resistance levels for highest probability setups
The indicator works as a momentum gauge and reversal spotter - not an entry system by itself
Alerts
The indicator includes built-in alert conditions:
Click the "⏰" (alarm clock) icon on your chart
Select "Fat Tony's Composite Momentum + ROC"
Choose "Rebound Watch" or "Fade Watch"
Configure your notification preferences
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。
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。
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。