SCALPERSAURUS HISTO

This indicator is a Histogram-based momentum tool that is designed to analyze price momentum in the market with the help of RSI (Relative Strength Index) readings. Unlike standard momentum indicators, this tool visually represents momentum strength and potential reversals using histogram bars and specific signals.

Histogram Analysis:
The histogram shows the strength and direction of momentum. Larger bars indicate stronger momentum in the corresponding direction, while shrinking bars can signal weakening momentum or a potential reversal.

RSI Integration:
The indicator incorporates RSI values to confirm momentum trends. By combining momentum and RSI, it filters out weaker signals and focuses on more reliable trend opportunities.

Pink Crosses (Sell Confirmation):
Whenever a pink cross appears on the chart, it signals a bearish momentum confirmation. This means that the indicator has detected enough downward momentum, supported by RSI readings, to suggest a potential sell opportunity. This sell signal remains valid until the conditions are invalidated, typically by a shift in momentum or a bullish crossover.

Green Crosses (Buy Confirmation):
Conversely, a green cross represents a bullish momentum confirmation. This indicates that upward momentum is strong enough to consider a buy, again confirmed with RSI values. The buy signal stays active until invalidated by a shift in momentum or a bearish crossover.

Purpose and Use:
Traders can use this indicator to time entries and exits more effectively, focusing on points where momentum aligns with RSI-based confirmations. The combination of histogram visualization and cross signals makes it easier to spot potential trend continuations or reversals without relying solely on price action.