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OPEN-SOURCE SCRIPT
Updated

Anil's Momentum Scanner with Buy/Sell Arrows

71
This script will:

Plot green arrows when bullish momentum is strong.

Plot red arrows when bearish momentum is strong.

Use VWAP, RSI, Volume, and EMA crossovers to confirm momentum.
Works ONLY with 2h timeframe.

✅ BUY (Green Arrow) appears when:

Price is above VWAP

Fast EMA > Slow EMA (trend up)

RSI > 70 (momentum positive)

Volume > 1.1x average

✅ SELL (Red Arrow) appears when:

Price is below VWAP

Fast EMA < Slow EMA (trend down)

RSI < 50 (momentum weak)

Volume > 1.1x average
Release Notes
Updated using volume

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

AlexTeddy7
Also on:
Moving AveragesVolume

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Moving AveragesVolume

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

AlexTeddy7
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.