OPEN-SOURCE SCRIPT
Updated Linear Scientific Momentum
Based on science formula , momentum = mass* velocity
here mass = volume , and velocity here is average velocity .
For VOLUME , MOMENTUM , VOLATILITY = it gives accurate value ( not slow like bb and ma )
here mass = volume , and velocity here is average velocity .
For VOLUME , MOMENTUM , VOLATILITY = it gives accurate value ( not slow like bb and ma )
Release Notes
we all know , momentum scientific formula = mass * speed , come to the point ,
volume = mass , speed = average speed direction of traders .
WHY THIS INDICATOR IS SO POWERFUL AND USEFUL ?
volume indicator only tells the number of traders entering in market ,right ?
but this indicator tell the number of trader trading in which direction .
this indicator tells you about the number of traders trading in which direction .
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.
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.
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.