TradingView
Mohit_Kakkar08
Mar 25, 2023 10:46 AM
Momentum Play
NSE:TATAPOWER
1D
TATA POWER CO LTD
NSE
Description
⋅
Mar 25, 2023 10:46 AM
Traders always need a confirmation of momentum in price action to ride the swings.
Momentum Play Indicator consists of the below:
Bullish Conditions :
1)EMA 8 above EMA 34 and rising
2)Candle close above 5 candle high
3) RSI above 60
4) Volume above 5 candles avg. volume
5) ADX above 20
Bearish Conditions :
1)EMA 8 below EMA 34 and falling
2)Candle close below 5 candle low
3) RSI below 40
4) Volume above 5 candles avg. volume
5) ADX above 20
Traders can change the inputs as per their liking to adjust as per their comfortable timeframe.
Credits: Special Thanks to Mr. DTBHAT for sharing the above conditions.
Relative Strength Index (RSI)
Average Directional Index (ADX)
Exponential Moving Average (EMA)
ADX
Comments
shivanjalikn
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May 13, 2023 12:44 PM
very nice script bro.thanks
jack-tamara
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Apr 8, 2023 3:46 PM
Thanks Bro for sharing.
sirdisaai
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Mar 27, 2023 4:40 AM
Wow, nice
aloksaha61
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Mar 25, 2023 5:09 PM
Nice , learning
devinder741
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Mar 25, 2023 5:00 PM
Great indiacator
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