OPEN-SOURCE SCRIPT
Short Term Momentum
This indicator is not designed to be used on its own. Its main purpose is to detect an early potential change in the Trend Momentum.
How does it work?
It aggregates 5 different aggressive indicators to output a probability signal between 1 and -1, with an adjusted "Neutral Threshold" according to Risk appetite.
L for Long, S for Short, O for out of the market or neutral.
Indicators used:
DMI
STC
SMI
Aroon
Crossing MA with level of sensitivity
MACD
Trend Cont.
How does it work?
It aggregates 5 different aggressive indicators to output a probability signal between 1 and -1, with an adjusted "Neutral Threshold" according to Risk appetite.
L for Long, S for Short, O for out of the market or neutral.
Indicators used:
DMI
STC
SMI
Aroon
Crossing MA with level of sensitivity
MACD
Trend Cont.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.