LFOM Index — Indicator by LucasMello

The ultimate Momentum Oscillator!

The ticker line act as a common momentum oscillator. When it's orange, the trustability of the overbought/oversold condition is greater.
The thiner line is made to be used on range moments, such as squares or envelopes.
The background collors indicates good moments to buy (green) or sell (red) - the signal is triggered in the very moment that the background color appears.

How to use:
!!!!! DON'T SELL ON STRONG BULL TRENDS AND DON'T BUY ON STRONG BEAR TRENDS!!
When facing a extremely strong bull market, overbought areas must be used as signs to take profits, not points to enter conter positions. The same rule applies to strong bear markets, in which the oversold areas indicates good points to cover position.

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Now you can see when on of the strategies is about to be triggered

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Add Fatigue lvl

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improve

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fix

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Improved

Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact LucasMello for more information, or follow the author's instructions below.

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Disclaimer

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