Momentum Oscillator (Zeiierman)█ Overview
Momentum Oscillator (Zeiierman) is a regime-stable momentum engine designed to reveal when the market is quietly building pressure and when that pressure is already expanding.
It measures long-lookback Rate of Change (ROC), smooths it for structural clarity, and then normalizes it into a clean −100 to +100 scale so momentum can be compared across assets and volatility regimes. You can choose between Z-Score normalization (adaptive to changing volatility) or Min/Max normalization (relative to recent extremes), followed by a final smoothing layer for readability and signal alignment.
█ How It Works
⚪ 1) Momentum Measurement (ROC Engine)
The script computes ROC across a cycle-based lookback:
Lookback Bars = Ranking Period (Cycles) × Bars per Cycle
ROC = (close / close − 1) × 100
ROC is smoothed with an EMA using Smoothing
⚪ 2) Normalization (Oscillator Mapping)
To keep the oscillator comparable across different symbols and volatility regimes, ROC is normalized into a bounded oscillator:
Mode A — Z-Score (default):
Computes SMA and StDev over Lookback
Converts ROC to Z-score
Clamps Z using Z-Score Clamp
Maps to −100…+100
Mode B — Min/Max:
Finds the highest/lowest ROC over Lookback
Converts the current ROC to a 0…1 percentile position
Remaps to −100…+100
█ How to Use
⚪ Bullish Read
Oscillator above 0 = bullish momentum regime
Stronger bullish momentum as oscillator rises toward +60
⚪ Bearish Read
Oscillator below 0 = bearish momentum regime
Stronger bearish momentum as oscillator falls toward −60
█ Settings
Ranking Period (Cycles) — how far back momentum is measured (cycles).
Bars per Cycle — converts cycles to bars (daily≈21).
Smoothing — EMA smoothing applied to ROC before normalization.
Lookback — window used to compute Z-Score or Min/Max ranges.
Use Z-Score — stable regime-based normalization (recommended).
Z-Score Clamp — limits extreme Z values to reduce spikes.
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Disclaimer
The content provided in my scripts, indicators, ideas, algorithms, and systems is for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or a solicitation to buy or sell any financial instruments. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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