Momentum Edge Pro

█ MOMENTUM EDGE PRO

A multi-timeframe momentum oscillator designed for scalping on lower timeframes (1m, 5m, 15m).

█ HOW IT WORKS

This indicator combines several momentum analysis techniques:

1. Dual EMA Difference - Calculates the difference between fast (8) and slow (21) exponential moving averages to measure momentum direction and strength.

2. Signal Line Smoothing - Applies a 5-period SMA to the momentum line to identify crossover opportunities.

3. Dynamic Histogram - Visualizes momentum strength with 4 distinct colors based on whether momentum is increasing or decreasing above/below zero.

4. Multi-Timeframe Confirmation - Uses a higher timeframe filter to align trades with the larger trend direction.

5. Volume Confirmation - Filters signals to only appear when volume exceeds the 20-period average by a customizable multiplier.

6. RSI Filter - Prevents long entries in overbought conditions (>70) and short entries in oversold conditions (<30).

█ SIGNAL LOGIC

CALL Signal (Green Triangle Up):
- Momentum line crosses above signal line
- Higher timeframe momentum is bullish
- Volume confirms with above-average activity
- RSI is not in overbought zone
- Histogram shows increasing bullish momentum for 2+ bars

PUT Signal (Red Triangle Down):
- Momentum line crosses below signal line
- Higher timeframe momentum is bearish
- Volume confirms with above-average activity
- RSI is not in oversold zone
- Histogram shows increasing bearish momentum for 2+ bars

Weak crosses appear as faded circles - these are filtered out and should be avoided.

█ HISTOGRAM COLORS

Bright Green: Bullish momentum increasing
Dark Green: Bullish momentum decreasing (potential reversal)
Bright Red: Bearish momentum increasing
Dark Red: Bearish momentum decreasing (potential reversal)

█ RECOMMENDED SETTINGS

For 1-minute charts: HTF = 5m
For 5-minute charts: HTF = 15m
For 15-minute charts: HTF = 1H

█ SETTINGS EXPLAINED

Core Settings:
- Fast Period: Controls sensitivity (lower = more reactive)
- Slow Period: Controls trend smoothing (higher = smoother)
- Signal Period: Controls signal line smoothing

Signal Filters:
- Min Histogram Size: Filters weak momentum (increase to reduce signals)
- Volume Multiplier: Required volume above average (1.2 = 20% above average)
- RSI Overbought/Oversold: Levels for RSI filter

█ BEST PRACTICES

1. Always confirm signals with price action
2. Use higher timeframe for trend direction
3. Avoid trading during news events
4. Fading histogram colors warn of potential reversals
5. Combine with support/resistance levels

█ ALERTS

Three alert conditions available:
- CALL Signal: Triggers on green triangle
- PUT Signal: Triggers on red triangle
- Any Signal: Triggers on either signal

To set alerts: Right-click chart → Add Alert → Select condition