MACD + Divergences [Alorse] is a momentum strategy that calculates the MACD oscillator and identifies regular and hidden divergences using pivot high and low points. It filters trade signals with dual Exponential Moving Averages (EMA 150 and 600) to ensure tra
Strategy Β· Pine Script v4 Β· Own pane
Momentum Index
Momentum Index is a Pine Script strategy that analyzes market momentum in a separate indicator pane.
GitHub stars13on the repository
Pine versionv4older, still runs
Lines of code230
Settings8inputs
LicenceNone stated
Last update4 years ago13 Apr 2022
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Momentum Index offers multiple visualization display modes, including Scope, Weighting, and Position. Traders can configure scalar gradation options with linear or logarithmic scaling, ratio multipliers, maximum boundaries, and high or low thresholds. The script restricts execution within a specified start and end date window. As presented, the strategy operates without defined stop-loss protection.
- Multiple display modes including Scope, Weighting, and Position
- Linear and logarithmic scalar gradation options
- Configurable scalar ratio and threshold boundaries
- Date and time window filter for backtesting
Details
Published by
CMYKSCRIPTS on GitHub
Type
Strategy, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Display | string | Scope | MODUS |
| Start Time | time | timestamp("21 May 2021 12:00 +0000") | TIME_DATE_START |
| End Time | time | timestamp("16 Aug 2021 00:00 +0000") | TIME_DATE_END |
| Scalar Gradation | string | Logarithmic | SCOPE_GRADATION |
| Scalar Ratio | float | 1.2 | SCOPE_RATIO |
| Scalar Maximum | float | 4400.0 | SCOPE_MAX |
| Scalar High | float | 0.25 | SCOPE_HI |
| Scalar Low | float | -0.25 | SCOPE_LO |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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