OPEN-SOURCE SCRIPT
Pymander's EZ Momentum Matrix
**Pymander’s EZ Momentum Matrix** is a responsive momentum oscillator designed to help traders measure directional strength, identify potential momentum shifts, and confirm whether price is moving with or against the broader trend.
The main oscillator compares fast and slow price movement, adjusts the result for current market volatility, and smooths the output into an easy-to-read wave. When the oscillator is rising, bullish momentum is strengthening. When it is falling, bearish momentum is gaining control.
The indicator also includes a separate **Trend Matrix** that analyzes momentum, price position, and trend structure using a series of double-smoothed moving averages. This helps distinguish strong directional movement from weaker or neutral market conditions.
Key features include:
* Rising and falling momentum visualization
* Overbought and oversold reference zones
* Bullish and bearish extreme-turn signals
* Trend Matrix showing bullish, bearish, or neutral conditions
* Confluence signals when oscillator momentum aligns with the broader trend
* Optional glow and gradient-fill effects
* Adjustable sensitivity, speed, smoothing, and trend settings
* Alerts for confluence and extreme momentum turns
Diamond signals appear when momentum direction and the Trend Matrix become aligned. Circle signals identify potential turns from overbought or oversold conditions.
What sets EZ Momentum Matrix apart from a traditional oscillator is that it does not rely on momentum alone. It combines momentum strength, momentum direction, trend confirmation, and price location into one clear visual tool. This can help traders confirm entries, avoid fighting strong trends, recognize weakening momentum, and better understand who currently has control of the market.
As with any indicator, use EZ Momentum Matrix alongside proper risk management, market structure, and a tested trading plan. No indicator can guarantee profitable results.
Best of luck with your trading. Stay patient, remain disciplined, and protect your capital.
— **Pymander**
The main oscillator compares fast and slow price movement, adjusts the result for current market volatility, and smooths the output into an easy-to-read wave. When the oscillator is rising, bullish momentum is strengthening. When it is falling, bearish momentum is gaining control.
The indicator also includes a separate **Trend Matrix** that analyzes momentum, price position, and trend structure using a series of double-smoothed moving averages. This helps distinguish strong directional movement from weaker or neutral market conditions.
Key features include:
* Rising and falling momentum visualization
* Overbought and oversold reference zones
* Bullish and bearish extreme-turn signals
* Trend Matrix showing bullish, bearish, or neutral conditions
* Confluence signals when oscillator momentum aligns with the broader trend
* Optional glow and gradient-fill effects
* Adjustable sensitivity, speed, smoothing, and trend settings
* Alerts for confluence and extreme momentum turns
Diamond signals appear when momentum direction and the Trend Matrix become aligned. Circle signals identify potential turns from overbought or oversold conditions.
What sets EZ Momentum Matrix apart from a traditional oscillator is that it does not rely on momentum alone. It combines momentum strength, momentum direction, trend confirmation, and price location into one clear visual tool. This can help traders confirm entries, avoid fighting strong trends, recognize weakening momentum, and better understand who currently has control of the market.
As with any indicator, use EZ Momentum Matrix alongside proper risk management, market structure, and a tested trading plan. No indicator can guarantee profitable results.
Best of luck with your trading. Stay patient, remain disciplined, and protect your capital.
— **Pymander**
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.