Electrified

Electrified Aggressive Momentum Signal

What this can be used for:

  • If you've already decided you want to trade a symbol, this can identify points of momentum alignment.
  • If a strong move has recently happened and you're looking for a change in momentum.


How it works:

This is a weighted combination of a Stochastic RSI and two modified SuperTrend (ATR Trailing Stop) indicators:

  • The Stochastic RSI signal is based upon aligned momentum and is negated at the overbought and oversold points.
  • The SuperTrend formula uses high and low values for calculation and both fast and slow can be adjusted for sensitivity.


Philosophy:

Signals have to be useful to humans. If a signal occurs to late, you've missed it. The intent of this indicator is to assist in timing a trade at very short time-frames. It assumes your conviction about a trade already exists, but you are trying to get an optimal entry.

Opposing momentum (weak signal) within an uptrend can be a sign that you should wait before entering. The frequency of a signal can indicate the strength of the trend. As the frequency of the aligned signal value decreases so does the reward vs risk.
Notas de Lançamento: Updated sample image.
Notas de Lançamento: Updated sample image.
Script de código aberto

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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