This script is for plotting momentum and speed of higher timeframe using MACD Histograms. Settings are hardcoded to 35/70/20 for momentum while speeds change slow length to 100, 200 and 300.
There is an option to use the user defined higher timeframe is case auto selection is inappropriate.
DISCLAIMER: This indicator has been created for educational reference only and do not constitute investment advice. This indicator should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Market data or any other content is subject to change at any time without notice. Liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of this indicator is accountability of user using it.
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Added 'Band' for Level and Label.
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The following updates are made -
Momentum and Speed inputs enabled for user to set what they prefer.
HTF time frame set to next HTF for a given trading timeframe. Default is set to 'D' for undefined options and user can override by using "User Defined".
Histogram Style options are provided - Circles and Columns.
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Corrected group settings.
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The following updates are made -
HTF options are set to 2-HTF.
Default HTF input option added for the timeframes that do not have Auto option set
Histogram colors options option made available - 2 (ref. Zero line) and 4 (ref. Zero line + Growing & Falling momentum).
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The following changes are made -
Added input options for Oscillator and Signal Length MA types.
Set Signal Length MA type to SMA by default. This will provide early indication of change in momentum.
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Added input option to select 5min Momentum timeframe for 1min/2min charts. Default is set to "Auto" which will be "15mins". This will help identify reversal as momentum changes in lower timeframes first leading to trend then to higher timeframes. Do exercise your discretion while choosing this option.
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Updated MOM signals to current candle and made timeframe labels readable.
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The following updates are made -
Removed first momentum band while retaining three momentum speeds.
Added CCI to find cycle high/ low for identifying area of value.
One HTF CCI can also be enabled while being in trading chart.
H1 and H4 Zone markers are added to identify the Impulsive Zones based on either CCI or Awesome Oscillator. Bullish: EMA10 > EMA20 / AO > Zero and Bearish: EMA10 < EMA20 / AO < Zero
Based on the above logic Tickers are added for H1, H4, D1 and W1 timeframes.
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Two OPTIONAL details added -
M30 and D1 Zones
Bar color changes when EMA10 crosses EMA20
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Added Second higher timeframe, CCI35 value against IZone ticker, indicator type selection based on what one needs, another CCI cycle.