ucsgears

Momentum Histogram

This creates a replica of relative distance from the moving averages, a good way to measure the strength, divergences etc.... short, mid and long term waves.

List of All my Indicators - https://www.tradingview.com/p/stocks/?sort=recent&time=day&by=ucsgears
Remove from Favorite Scripts Add to Favorite Scripts
study(title = "Momentum Histogram", shorttitle="Mom Hist")

source=close
EMA_1=input(13, title="EMA 1")
EMA_2=input(21, title="EMA 2")
EMA_3=input(34, title="EMA 3")

hist1 = (ema(close,EMA_1)*close)-(ema(close,EMA_2)*close)
hist2 = (ema(close,EMA_2)*close)-(ema(close,EMA_3)*close)

Wave1=(hist1)
Wave2=(hist2)

plot(Wave2, style=histogram, color=red, linewidth=4)
plot(Wave1, style=histogram, color=#0066cc, linewidth=4)
Hey, thanks for creating this indicator. Could you explain how you interpret the indicator, especially the light blue and red areas? Does the red mean the trend is slowing down, and blue confirms the trend?
Reply
VERSION - 2 Momentum Histogram Posted, follow Link -
Momentogram - Wave
Reply
Nice to know we can plot two colors in one histogram bar for oscillators.
Reply
I use those settings for Short term, Mid term and Long term. The red histrogram shows divergences. Only Blue, the trend is strong.
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out