This is a momentum oscillator that paints red or green depending on whether Momentum is above or below the zero line. It includes a label on the right hand side that will reflect the bullish or bearish direction of the current momentum by changing colors to red or green and text telling you Bullish or Bearish.
***HOW TO USE*** When Momentum is above zero, it is bullish. When Momentum is below zero it is bearish. A label on the right side will update in real time to tell you if momentum is Bullish or Bearish for faster recognition of the trend. When momentum is above the zero line(Bullish) but trending downward, a second label will show up in purple to notify you of a change in momentum direction. When momentum is below the zero line(Bearish) but trending upward, a second label will show up in purple to notify you of a change in momentum direction.
This indicator was built to help you quickly identify the Bullish or Bearish nature of the current Momentum using colors as well as a live color changing label so you can glance at the label and understand it's direction without analyzing the indicator data.
***MARKETS*** This indicator can be used as a signal on all markets, including stocks, crypto, futures and forex.
***TIMEFRAMES*** This momentum indicator can be used on all timeframes.
***TIPS*** Try using numerous indicators of ours on your chart so you can instantly see the bullish or bearish trend of multiple indicators in real time without having to analyze the data. Some of our favorites are our Auto Fibonacci, Directional Movement Index, Volume Profile, Auto Support And Resistance and Money Flow Index in combination with this Momentum Oscillator. They all have real time Bullish and Bearish labels as well so you can immediately understand each indicator's trend.
Release Notes
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Added the ability to turn the bull/bear label on or off for better viewing on the mobile app or users that don't want the label.
this is cool bro what setting do you find would be for 15 minute timeframe thanks alot
FriendOfTheTrend
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@CodyMaki, Default setting is fine. I like to use 100 as the length for long term trend detection.
CodyMaki
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@FriendOfTheTrend, cool yea im playing around with it right now how well does this work you think
zeroideas
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this is the way, for short term trends for QoQ in soft commodities and cross pairs as well as some minors EUR/xxx or USD/xxx, thx my brother! mtf version would be fine!
FriendOfTheTrend
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@jjkljkl, Glad you like it. I'll look into maybe adding higher timeframes to it.