- The height of the histogram represents how strong the current price move is.
- The momentum is visualized with bold circles- and darker histogram colors.
- The suggested exit point is visualized with a circle.
All types of momentum oscillator indicators produce divergences and so does WaveTrend Momentum (Expo). Divergences occur when the oscillator deviates from the trending price action. is then when the trending price makes a lower low but the oscillator makes a higher low. divergence is then when the trending price makes a higher high but the oscillator makes a lower high.
- The indicator can be used standalone or as a part of your current trading strategy.
HOW TO USE
1. Use the indicator to identify potential turning points.
2. Use the indicator to identify where momentum starts and stalls.
3. Use the indicator to identify the direction of the trend.
4. Use the indicator to find divergences.
5. Use the indicator to identify potential exits.
INDICATOR IN ACTION
- Works on any market
I hope you find this indicator useful, and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/ideas are only for educational purposes!
- Top/Bottom signals are added. These can also be seen as "Take profit areas". If a signal occurs and the market shows no sign of reversal, that signal should be seen as an impulse.
Access my indicators at: http://zeiier-man.com
Master List: https://1drv.ms/w/s!AieB89nHkQXVa2j_ZCKpATEp1T0?e