OPEN-SOURCE SCRIPT
Momentum Weighted Bands | NAL
1. Overview
Momentum Weighted Bands | NAL is an adaptive trend indicator utilizing volatility bands that follow momentum. Instead of using one fixed band multiplier at all times, it studies the current momentum environment and adjusts the bands tightness dynamically.
2. Calculation
The indicator starts by calculating RSI as its momentum engine. It then subtracts an EMA of that RSI to create a momentum residual, showing whether momentum is stronger or weaker than its own recent average.
That residual is ranked using percent rank. The stronger the momentum residual is compared to recent history, the more the band multiplier shifts between the minimum and maximum values.
The final bands are built as:
Pine Script®
A bullish state triggers when price closes above the upper band. A bearish state triggers when price closes below the lower band.
3. Key Features
4. Use
Use it to quickly identify when price is escaping its normal momentum-adjusted range. Above the upper band suggests bullish expansion, below the lower band suggests bearish expansion, and movement inside the bands means price has not yet confirmed a new directional regime.
Momentum Weighted Bands | NAL is an adaptive trend indicator utilizing volatility bands that follow momentum. Instead of using one fixed band multiplier at all times, it studies the current momentum environment and adjusts the bands tightness dynamically.
2. Calculation
The indicator starts by calculating RSI as its momentum engine. It then subtracts an EMA of that RSI to create a momentum residual, showing whether momentum is stronger or weaker than its own recent average.
That residual is ranked using percent rank. The stronger the momentum residual is compared to recent history, the more the band multiplier shifts between the minimum and maximum values.
The final bands are built as:
A bullish state triggers when price closes above the upper band. A bearish state triggers when price closes below the lower band.
3. Key Features
- Volatility bands adaptive to momentum conditions.
- Filters noise through confluence.
- Clean trend-state visualization with visual options.
4. Use
Use it to quickly identify when price is escaping its normal momentum-adjusted range. Above the upper band suggests bullish expansion, below the lower band suggests bearish expansion, and movement inside the bands means price has not yet confirmed a new directional regime.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.