Positive20
Momentum Breakout Candles
Description:
This indicator tracks price movements and highlights specific candle patterns based on momentum calculations. It identifies candles where price shows a controlled move above a simple moving average.
How it works:
· Monitors rate of change over a defined period
· Compares closing prices to moving average values
· Detects candles that open lower and close higher with moderate momentum
Features:
· Customizable period length for calculations
· Adjustable colors for highlighted candles
· Optional horizontal reference lines
· Clean visual display without clutter
Settings:
· Period Length: Number of bars for momentum calculation
· Candle Color: Choose highlight color for specific patterns
· Line Settings: Toggle and customize reference lines
Usage:
Suitable for traders who prefer to observe price behavior relative to moving averages. Works best when combined with other technical analysis tools.
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact qshm2030 directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact qshm2030 directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.