PINE LIBRARY

MomentumSignals

Updated
Library "MomentumSignals"
Contains utilities varying algorithms for detecting key changes in momentum. Note: Momentum is not velocity and should be used in conjunction with other indicators. A change in momentum does not mean a reversal of velocity or trend.

simple(primary, secondary, len) Compares two series for changes in momentum to derive signal values.
  Parameters:
    primary: The primary series (typically a moving average) to look for changes in momentum.
    secondary: The secondary series (typically derived moving average of the primary) to use as a comparison value.
    len: The number of bars to measure the change in momentum.

filtered(primary, secondary, len, stdlen, stdMultiple) Compares two series for changes in momentum to derive signal values. Uses statistics to filter out changes in momentum.
  Parameters:
    primary: The primary series (typically a moving average) to look for changes in momentum.
    secondary: The secondary series (typically derived moving average of the primary) to use as a comparison value.
    len: The number of bars to measure the change in momentum.
    stdlen: The number of bars to measure the change in momentum for filtering.
    stdMultiple: The multiple of the change in momentum to use before reversiing.

special(primary, secondary, stdlen, stdMultiple) Compares two series for changes in momentum to derive signal values. Uses statistics to filter out changes in momentum. Does not signal when likely overbought or oversold.
  Parameters:
    primary: The primary series (typically a moving average) to look for changes in momentum.
    secondary: The secondary series (typically derived moving average of the primary) to use as a comparison value.
    stdlen: The number of bars to measure the change in momentum for filtering.
    stdMultiple: The multiple of the change in momentum to use before reversiing.
Release Notes
v2 Updated Thumbnail
Release Notes
v3 Added stochRSI signal.

Added:
stochRSI(fast, fast, rsiLen, stochLen, src, kmode, upper, lower) Returns a signal value representing the stage of where the RSI is in its cycle.
  Parameters:
    fast: The length to average the stochastic.
    fast: The length to smooth out K and produce D.
    rsiLen: The length of the RSI.
    stochLen: The length of stochastic.
    src: The series to measure from. Default is 'close'.
    kmode: The type of moving average to generate. Values allowed are: SMA, EMA, WMA, VWMA and VAWMA.
    upper: The upper band of the range.
    lower: The lower band of the range.
  Returns: [K, D]
Release Notes
v4 Fixed function docs.
Release Notes
v5
Release Notes
v6 Exposed 'stage' to stochRSI signal.
Release Notes
v7 Updated reference with improved Momentum/MovingAverages.
Release Notes
v8: Revised 'stage' values and improve signals.

+1 oversold and rising
+2 rising above lower boundary
+3 rising above mid
+4 overbought
-1 overbought and falling
-2 falling above mid
-3 falling below upper boundary
-4 oversold

Updated:
stochRSI(smoothK, smoothD, rsiLen, stochLen, src, kmode, upper, lower) Returns a signal value representing the stage of where the RSI is in its cycle.
  Parameters:
    smoothK: The length to average the stochastic.
    smoothD: The length to smooth out K and produce D.
    rsiLen: The length of the RSI.
    stochLen: The length of stochastic.
    src: The series to measure from. Default is 'close'.
    kmode: The type of moving average to generate. Values allowed are: SMA, EMA, WMA, VWMA and VAWMA.
    upper: The upper band of the range.
    lower: The lower band of the range.
  Returns: [signal, stage] Where stage is: +1 is oversold and rising, +2 rising above lower bound but less than mid. +3 rising above mid. +4 is overbought. Negative numbers are the reverse.
Release Notes
v9 Sensitivity revisions.
Release Notes
v10 Improved signal logic.
techindicator

Pine library

In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in a publication is governed by House rules.

Disclaimer