OPEN-SOURCE SCRIPT
TX Ultra Pulse TWH
## Overview
TX Ultra Pulse TWH is a normalized momentum oscillator designed to visualize trend strength and identify potential reversal points. Unlike standard oscillators that use fixed ranges (0-100), this script normalizes its output into a standardized histogram (typically fluctuating between -1.5 and +1.5), making it easier to compare volatility across different assets.
## How It Works (The Logic)
The indicator allows users to switch between 4 different calculation "Engines". Each engine processes price data differently but outputs a normalized result:
1. Composite Mode (Default & Recommended)
This mode creates a "consensus" signal by blending three classic momentum indicators to filter out noise.
Logic: It calculates the 14-period RSI, 14-period Stochastic, and 20-period CCI.
Normalization: RSI and Stochastic are centered around zero (subtracting 50). CCI is divided by 150 to match the scale.
Weighting: The formula uses a weighted average: (RSI + (Stoch * 2) + CCI) / 3. The Stochastic component is given double weight to prioritize reaction to recent price closes.
Result: A smoother oscillator that reacts to overbought/oversold conditions with less "whipsaw" than a raw RSI.
2. Deviation Mode
Logic: Calculates the percentage distance between the Close price and a Moving Average (default 20 SMA).
Scaling: The result is normalized using Standard Deviation (Z-Score concept) to fit the histogram scale.
Use Case: Best for spotting mean-reversion opportunities when price extends too far from its baseline.
3. Momentum Mode
Logic: Pure Rate-of-Change (ROC). It measures the percentage change between current close and close n periods ago.
Use Case: Ideal for identifying pure trend velocity without the smoothing lag of complex averages.
4. RS Index Mode
Logic: Comparative Relative Strength. It compares the performance of the current asset against a user-defined benchmark (e.g., SPY, BTC, or IDX:COMPOSITE) over a lookback period.
Formula: (Asset % Change - Benchmark % Change). Positive values indicate the asset is outperforming the market.
## Features & Settings
Noise Filter: A built-in EMA smoothing layer (default 15) is applied to the final calculation to reduce visual noise.
Color Grading:
Green: Positive Momentum (Bullish).
Red/Orange: Negative Momentum (Bearish).
Color Intensity: Brighter colors indicate accelerating momentum, while darker/faded colors indicate deceleration (divergence).
Dashboard: Displays the current real-time values, trend direction, and signal status directly on the chart.
## How to Use
Trend Confirmation: Use the histogram color to confirm the trend direction. Do not go Long if the histogram is Red.
Zero Cross: A crossover above 0 indicates a shift to bullish momentum. A cross below 0 indicates bearish momentum.
Divergence: If price makes a Higher High but the Pulse Histogram makes a Lower High, this indicates momentum exhaustion (Bearish Divergence).
## Disclaimer
This script is a technical analysis tool intended for educational purposes. It does not guarantee profits. Past performance is not indicative of future results.
TX Ultra Pulse TWH is a normalized momentum oscillator designed to visualize trend strength and identify potential reversal points. Unlike standard oscillators that use fixed ranges (0-100), this script normalizes its output into a standardized histogram (typically fluctuating between -1.5 and +1.5), making it easier to compare volatility across different assets.
## How It Works (The Logic)
The indicator allows users to switch between 4 different calculation "Engines". Each engine processes price data differently but outputs a normalized result:
1. Composite Mode (Default & Recommended)
This mode creates a "consensus" signal by blending three classic momentum indicators to filter out noise.
Logic: It calculates the 14-period RSI, 14-period Stochastic, and 20-period CCI.
Normalization: RSI and Stochastic are centered around zero (subtracting 50). CCI is divided by 150 to match the scale.
Weighting: The formula uses a weighted average: (RSI + (Stoch * 2) + CCI) / 3. The Stochastic component is given double weight to prioritize reaction to recent price closes.
Result: A smoother oscillator that reacts to overbought/oversold conditions with less "whipsaw" than a raw RSI.
2. Deviation Mode
Logic: Calculates the percentage distance between the Close price and a Moving Average (default 20 SMA).
Scaling: The result is normalized using Standard Deviation (Z-Score concept) to fit the histogram scale.
Use Case: Best for spotting mean-reversion opportunities when price extends too far from its baseline.
3. Momentum Mode
Logic: Pure Rate-of-Change (ROC). It measures the percentage change between current close and close n periods ago.
Use Case: Ideal for identifying pure trend velocity without the smoothing lag of complex averages.
4. RS Index Mode
Logic: Comparative Relative Strength. It compares the performance of the current asset against a user-defined benchmark (e.g., SPY, BTC, or IDX:COMPOSITE) over a lookback period.
Formula: (Asset % Change - Benchmark % Change). Positive values indicate the asset is outperforming the market.
## Features & Settings
Noise Filter: A built-in EMA smoothing layer (default 15) is applied to the final calculation to reduce visual noise.
Color Grading:
Green: Positive Momentum (Bullish).
Red/Orange: Negative Momentum (Bearish).
Color Intensity: Brighter colors indicate accelerating momentum, while darker/faded colors indicate deceleration (divergence).
Dashboard: Displays the current real-time values, trend direction, and signal status directly on the chart.
## How to Use
Trend Confirmation: Use the histogram color to confirm the trend direction. Do not go Long if the histogram is Red.
Zero Cross: A crossover above 0 indicates a shift to bullish momentum. A cross below 0 indicates bearish momentum.
Divergence: If price makes a Higher High but the Pulse Histogram makes a Lower High, this indicates momentum exhaustion (Bearish Divergence).
## Disclaimer
This script is a technical analysis tool intended for educational purposes. It does not guarantee profits. Past performance is not indicative of future results.
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.