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Magma Momentum
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This is a simple and easy-to-read momentum indicator that can help you identify divergences and shifts in momentum.
A divergence is when price moves in one direction but the indicator moves in the opposite direction. This typically is a sign of price exhaustion and can indicate that price is about to reverse, at least momentarily.
Here is a comparison with RSI (relative strength index) and some examples of divergences.
Enjoy.
A divergence is when price moves in one direction but the indicator moves in the opposite direction. This typically is a sign of price exhaustion and can indicate that price is about to reverse, at least momentarily.
Here is a comparison with RSI (relative strength index) and some examples of divergences.
Enjoy.
Информация о релизе
Added two new optional components: OBVM (On balance volume momentum) based on OBV and a custom Chaikin Money Flow. I highly recommend enabling these in the settings as they can be used for extra confirmation of momentum.Since the OBVM is based on volume it is often a leading indicator. All of these tools used in combination can give very strong signals and can help keep you out of bad trades.
Информация о релизе
Added smoothing to momentum waves, tweaked OBVM and made a bunch of improvements to CMF..Информация о релизе
Added line modeСкрипт с защищённым кодом
Этот скрипт опубликован с закрытым исходным кодом, вы можете свободно им пользоваться. Можно добавить его в избранное и использовать на графике. Вы не можете просматривать или менять его исходный код.
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