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Actualizado Triple Momentum Confluence Oscillator
Slightly lagging oscillator, that provides strong trending signals.
Consists of 3 indicators:
'The line'- the quickest to react to price movement
'The wave'- medium term visual aid.
'The ribbon''- trending price direction.
How to use- look for confluence of all 3 turning the same color. Essentially the indicator seeks to short any oversold readings in a downtrend and vice versa.
Tip 1: 'Anchor Trigger' trigger strategy is plausible with TMCO
Tip 2: Look at multiple timaframes, every significant move is an obvious trade on one or the other timeframe.
Tip 3: This is not divergence indicator, it may or may not show you divergence.
The indicator has alerts however these are far from perfect for multitude of reasons, but they can still provide decent entries.
Consists of 3 indicators:
'The line'- the quickest to react to price movement
'The wave'- medium term visual aid.
'The ribbon''- trending price direction.
How to use- look for confluence of all 3 turning the same color. Essentially the indicator seeks to short any oversold readings in a downtrend and vice versa.
Tip 1: 'Anchor Trigger' trigger strategy is plausible with TMCO
Tip 2: Look at multiple timaframes, every significant move is an obvious trade on one or the other timeframe.
Tip 3: This is not divergence indicator, it may or may not show you divergence.
The indicator has alerts however these are far from perfect for multitude of reasons, but they can still provide decent entries.
Notas de prensa
Added 'Knife'A more sensitive version of 'line'. Use to spot precise trend reversals in confluence with the ribbon and wave. E.g.- red ribbon and red wave, look for lower highs (trigger anchor) on the knife for short entries.
Notas de prensa
Visual clarity adjustments. Shortened the default length of line and wave= improved trigger anchor strategy as well as earlier entries.
Knife default settings same as wave and line, feel free to lower or increase the values.
My current set up 7/7 7/7 14/400 knife disabled.
Some screenshots of trades I would take on various time frames.
Notas de prensa
V2Visual changes to appear more like an oscillator.
Knife removed.
Ribbon moved slightly down.
RSI added - changes color when crossing 70/30 levels.
More alerts- ability to set ALL buy and sell confluences.
Notas de prensa
Alerts now work as intended ! Notas de prensa
v3Added automatic convergence detection.
Small triangles= low risk/low reward.
Big triangles= high risk/high reward.
Notas de prensa
Settings adjusted Added OB/OS background highlights
Notas de prensa
Ribbon now uses security function instead of simple length multiple.Added stochastic- use to better filter trades.
Pro trend convergence indicated by diamonds.
Stochastic OB/OS indicated by Xs.
When both conditions above are met, diamond+X.
The alerts set up for only the convergence.
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La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script protegido
Este script se publica como código cerrado. No obstante, puede utilizarlo libremente y sin ninguna limitación. Obtenga más información aquí.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.