Momentum Indicator [SignalCave]
Momentum Indicator helps you to identify potential reversal areas.
Calculation done with using Relative Strength Index (RSI), Money Flow Index (MFI) and Average Directional Movement Index (ADX) indicators.
On full strength bearish movement bars paints as light red, full strength bullish movement bars paints as light green color.
They indicates that trend can be change to opposite direction in a short period of time.
Momentum Strength have three modes which are “Aggressive, Moderate and Conservative”. You can customize the mode on settings screen.
How to Create Alerts?
Alerts are available for “Bullish Momentum, Bearish Momentum”
- Type asset name on symbol search area.
- Adjust your timeframe that you wish to track.
- Select one of the condition that you wish to get inform.
- Select “Once Per Bar Close” option.
- Click “Create”
That’s all! Now you have to do is waiting the alert and take action afterwards.
Momentum [SignalCave] indicator is an “invite-only” script that available on TradingView charting platform. Contact me for an access request.
