OPEN-SOURCE SCRIPT
MTF Momentum Heatmap
A visual momentum heatmap that displays 10 bands of price momentum across different lookback periods, from fast (short-term) to slow (long-term). Inspired by professional momentum heatmap indicators.
How it works:
Each horizontal band represents a different momentum lookback period. The bottom band is the fastest (shortest period), and the top band is the slowest (longest period). Momentum is calculated as the normalized rate of change, smoothed to reduce noise.
Color Scale:
- Red / Orange / Yellow = Bullish momentum (price rising)
- Blue / Cyan / Teal = Bearish momentum (price falling)
- Green = Neutral / transition zone
How to read it:
- All bands same color = strong trend, high conviction
- Color changing from bottom up = new trend building (fast momentum leading)
- Color changing from top down = trend weakening (slow momentum fading)
- Mixed colors = choppy / no clear direction — stay cautious
Features:
- 10 momentum bands with exponentially increasing lookback periods
- Customizable base period, multiplier, and smoothing
- Two overlay moving averages (fast & slow) — crossovers signal momentum shifts
- Info panel showing fast/mid/slow momentum values and overall bias
- Built-in alerts for all-bullish and all-bearish alignment
- Works on any instrument, any timeframe
Settings:
- Base Period: Starting lookback length for the fastest band (default: 5)
- Period Multiplier: How much each band increases (default: 1.5x)
- Smoothing: Reduces noise in the bands (default: 3)
- MA Type: EMA or SMA for smoothing
Alerts:
- All bands bullish
- All bands bearish
How it works:
Each horizontal band represents a different momentum lookback period. The bottom band is the fastest (shortest period), and the top band is the slowest (longest period). Momentum is calculated as the normalized rate of change, smoothed to reduce noise.
Color Scale:
- Red / Orange / Yellow = Bullish momentum (price rising)
- Blue / Cyan / Teal = Bearish momentum (price falling)
- Green = Neutral / transition zone
How to read it:
- All bands same color = strong trend, high conviction
- Color changing from bottom up = new trend building (fast momentum leading)
- Color changing from top down = trend weakening (slow momentum fading)
- Mixed colors = choppy / no clear direction — stay cautious
Features:
- 10 momentum bands with exponentially increasing lookback periods
- Customizable base period, multiplier, and smoothing
- Two overlay moving averages (fast & slow) — crossovers signal momentum shifts
- Info panel showing fast/mid/slow momentum values and overall bias
- Built-in alerts for all-bullish and all-bearish alignment
- Works on any instrument, any timeframe
Settings:
- Base Period: Starting lookback length for the fastest band (default: 5)
- Period Multiplier: How much each band increases (default: 1.5x)
- Smoothing: Reduces noise in the bands (default: 3)
- MA Type: EMA or SMA for smoothing
Alerts:
- All bands bullish
- All bands bearish
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.