Momentum Indicator based on previous candle structure over past 40 periods
- Blue is momentum score
- Green = 15 ema
- Red = 50 sma
- orange = 100 sma

The indicator looks at the previous candles differences between open, close, high, and low to determine momentum. A high close relative to open or low indicates very strong momentum for example.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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