OPEN-SOURCE SCRIPT
Updated Momentum Strategy (Long/Short Selection)
Momentum Strategy (Long/Short Selection) - but preferred Long only
Release Notes
This TradingView strategy implements a Momentum-Based Trading System with customizable Long and Short selections. It calculates a Normalized Momentum Score using user-defined lookback periods and incorporates additional technical filters such as EMA/SMA crossovers, RSI, and MACD signals to enhance trade accuracy. Users can select between Long-only, Short-only, or both Long & Short trades, making it a versatile tool for different market conditions. The strategy also includes volume filtering to avoid illiquid stocks and ensures optimal trade execution.Preferably used on higher timeframes (weekly) for swing trading or investing with a Long-only setup.
Release Notes
.........................................................................................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.
For quick access on a chart, add this script to your favorites — learn more here.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.