zhiming

Multi period momentum (30m)

zhiming Updated   
I found that when there is oversold or overbought, there is always a good point to buy. Buyers can enter the market after oversold drops or overbought turns. It is recommended not to intervene when overbought or oversold is started, because this may be a deviation.

The basic logic of the strategy is to detect multi period and multi empty conditions. When the multiple or short forces reach an extreme value, we think there will be a good reversal. Based on this, we believe that the best use here is 30m cycle.
I will release the version of multiple cycles in the future. My favorite friends can pay attention to it.


1. Based on multi period resonance;

2. The total score of momentum coefficient is 36, and the lowest score is 0; If the coefficient score is greater than 18, it is a long trend; if the coefficient score is less than 18, it is a short trend. It is recommended to look long if the coefficient score is greater than 18 and short if the coefficient score is less than 10;

3. The closer the momentum coefficient is to the extreme value, the greater the possibility of inversion. Therefore, it can be considered that when it is greater than 30, empty orders can be placed, and when it is less than 5, multiple orders can be placed;

4. This index calculates the resonance coefficient in combination with multiple periods of 5m, 15m, 30m, 1h, 2h and 4h. The most suitable period is 30m, because this period is the middle value;

5. You can use the 30m cycle to look at the overall direction and the 5m cycle to find the exact trading opportunities.
Release Notes:
1、Multiple cycles of data are added for free selection.

电报群:https://t.me/+_mVynsW2OKEzZThl
Protected script
This script is published closed-source but you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
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.

Want to use this script on a chart?