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Trend Momentum Synthesizer

By analyzing the MACD (Moving Average Convergence Divergence) and Squeeze Momentum indicators, this indicator helps identify potential bullish, bearish, or undecided market conditions.

The algorithm within considers the positions of the MACD and Squeeze Momentum indicators to determine the overall market sentiment. When the indicators align and indicate a bullish market condition, the indicator's plot color will be either dark green, green, yellow, or lime, indicating a potential bullish trend. Conversely, if the indicators align and indicate a bearish market condition, the plot color will be maroon or red, denoting a potential bearish trend. When the indicators are inconclusive, the plot color will be orange, suggesting an undecided market.

The ADX is an addon component of this indicator, helping to assess the strength of a trend. By analyzing the ADX, the indicator determines whether a trend is strong enough, providing additional confirmation for potential trade signals. The ADX smoothing and DI (Directional Index) length parameters can be customized to suit individual trading preferences.

By combining these indicators, the algorithm provides traders with a comprehensive view of the market, helping them make informed trading decisions. It aims to assist traders in identifying potential market opportunities and aligns with the objective of maximizing trading performance.

How to use the indicator:

Note: I used back-testing for fine tuning do not base your trades on signals from the testing framework.

Get access to our indicators at: huntergatherers.tech
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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