Momentum and Acceleration

The following oscillator is a twist on momentum, incorporating a 2nd derivative "acceleration" to help determine changes in momentum. Both are plotted directly accessing previous series values rather than using a moving average.

The script has an option to divide so the formula is d(Price)/d(Time), like a derivative. The script also provides options for the user to use their price source, volume, or a combination of price and volume.

Credit: This script utilizes the "color gradient framework" tutorial by LucF (PineCoders) to create user-adjustable gradient visuals.

Definitions

"1st Derivative - Momentum" - Momentum is most commonly referred to as a rate and measures the acceleration of the price and/or volume of a security.
"2nd Derivative - Acceleration" - Acceleration is the rate of change of momentum.

Value Added

This script may help the trader to assess directional changes in momentum easier.
This script also plots using [] previous series values rather than using a moving average function. To my knowledge, I was unable to find one that does this for "2nd derivative", so it had to be created.

Notas de prensa

3-Nov-21: added timeframe/gaps feature

Script de código abierto

Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.

animecummer

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Script de código abierto

animecummer