The "MOM HEAT" indicator combines MACD, Stochastic, MFI, and RSI to create a heat map of market momentum.
It calculates wave values based on these indicators for four different timeframes. The wave values are then normalized and combined to determine overall momentum. The indicator plots squares on the chart to represent the wave values for each timeframe. It also draws a line to indicate potential momentum shifts. Additionally, a table displays the timeframes and their corresponding colors (lib kaigouthro/hsvColor/15).
Overall, the indicator provides a visual representation of market momentum and potential shifts.
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The "MOM HEAT" indicator combines MACD, Stochastic, MFI, and RSI to create a heat map of market momentum.
It calculates wave values based on these indicators for four different timeframes. The wave values are then normalized and combined to determine overall momentum. The indicator plots squares on the chart to represent the wave values for each timeframe. It also draws a line to indicate potential momentum shifts. Additionally, a table displays the timeframes and their corresponding colors (lib kaigouthro/hsvColor/15).
Overall, the indicator provides a visual representation of market momentum and potential shifts.