OPEN-SOURCE SCRIPT
Aktualisiert Pro Momentum Calculator
The Pro Momentum Calculator Indicator is a tool for traders seeking to gauge market momentum and predict future price movements. It achieves this by counting consecutive candle periods above or below a chosen Simple Moving Average (SMA) and then providing a percentage-based probability for the direction of the next candle.
Here's how this principle works:
1. Counting Consecutive Periods: The indicator continuously tracks whether the closing prices of candles are either above or below the chosen SMA.
- When closing prices are above the SMA, it counts consecutive periods as "green" or indicating potential upward momentum.
- When closing prices are below the SMA, it counts consecutive periods as "red" or suggesting potential downward momentum.
2. Assessing Momentum: By monitoring these consecutive periods, the indicator assesses the strength and duration of the current market trend.
This is important information for traders looking to understand the market's behavior.
3. Predicting the Next Candle: Based on the historical data of consecutive green and red periods, the indicator calculates a percentage probability for the direction of the next candle:
- If there have been more consecutive green periods, it suggests a higher likelihood of the next candle being green (indicating a potential upward movement).
- If there have been more consecutive red periods, it suggests a higher likelihood of the next candle being red (indicating a potential downward movement).
The Pro Momentum Calculator indicator's versatility makes it suitable for a wide range of financial markets, including stocks, Forex, indices, commodities, cryptocurrencies...
Here's how this principle works:
1. Counting Consecutive Periods: The indicator continuously tracks whether the closing prices of candles are either above or below the chosen SMA.
- When closing prices are above the SMA, it counts consecutive periods as "green" or indicating potential upward momentum.
- When closing prices are below the SMA, it counts consecutive periods as "red" or suggesting potential downward momentum.
2. Assessing Momentum: By monitoring these consecutive periods, the indicator assesses the strength and duration of the current market trend.
This is important information for traders looking to understand the market's behavior.
3. Predicting the Next Candle: Based on the historical data of consecutive green and red periods, the indicator calculates a percentage probability for the direction of the next candle:
- If there have been more consecutive green periods, it suggests a higher likelihood of the next candle being green (indicating a potential upward movement).
- If there have been more consecutive red periods, it suggests a higher likelihood of the next candle being red (indicating a potential downward movement).
The Pro Momentum Calculator indicator's versatility makes it suitable for a wide range of financial markets, including stocks, Forex, indices, commodities, cryptocurrencies...
Versionshinweise
Option to use Heikin Ashi candles removedVersionshinweise
minor changesVersionshinweise
EMA calculation added in addition to SMAVersionshinweise
Minor changesVersionshinweise
Minor adjustments madeOpen-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Plan the trade, trade the plan
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Plan the trade, trade the plan
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.