OPEN-SOURCE SCRIPT
Momentum de Pips Institucional
Script Description
This indicator analyzes the price movement of the last N candles (default: 200) and calculates the accumulated positive and negative pip movement to measure market pressure and directional momentum.
For each candle, the script calculates the difference between the closing and opening prices and converts that movement into pips using the instrument's minimum tick size.
The indicator then aggregates these values over the selected lookback period to determine whether buyers or sellers have been dominating the market.
A table on the chart summarizes key market metrics.
Metrics Calculated
Positive Pips
Total accumulated pips from candles where:
Close > Open
This represents buying pressure.
Negative Pips
Total accumulated pips from candles where:
Close < Open
This represents selling pressure.
Delta Pips
Net market movement calculated as:
Delta = Positive Pips + Negative Pips
Interpretation:
Positive value → bullish dominance
Negative value → bearish dominance
Bullish Candle Percentage
Percentage of bullish candles within the analyzed period:
Bull % = (Bullish Candles / Total Candles) × 100
This helps identify whether the market structure favours buyers or sellers.
Bull/Bear Ratio
Measures the relative strength of bullish versus bearish movement:
Ratio = |Positive Pips / Negative Pips|
Interpretation:
Ratio Market Condition
≈1 Balanced market
1.5+ Trending market
2+ Strong directional pressure
Momentum
Directional momentum is calculated as:
Momentum = Delta / Number of Candles
This metric shows how quickly the market is moving in a particular direction.
Visual Signals
The script also highlights strong directional conditions:
Green background
Bullish candles > 60%
Delta pips positive
This indicates strong bullish dominance.
Red background
Bullish candles < 40%
Delta pips negative
This indicates strong bearish dominance.
Purpose of the Indicator
This indicator helps traders quickly identify:
Market pressure (buying vs selling)
Directional dominance
Momentum strength
Potential trending conditions
It can be used across Forex, indices, commodities, and cryptocurrencies to evaluate whether the recent price action favours continuation or reversal scenarios.
If you want, I can also write a much more professional TradingView publication description (the type used by top indicators) so that when you publish it, it looks very professional and gets more followers on TradingView.
This indicator analyzes the price movement of the last N candles (default: 200) and calculates the accumulated positive and negative pip movement to measure market pressure and directional momentum.
For each candle, the script calculates the difference between the closing and opening prices and converts that movement into pips using the instrument's minimum tick size.
The indicator then aggregates these values over the selected lookback period to determine whether buyers or sellers have been dominating the market.
A table on the chart summarizes key market metrics.
Metrics Calculated
Positive Pips
Total accumulated pips from candles where:
Close > Open
This represents buying pressure.
Negative Pips
Total accumulated pips from candles where:
Close < Open
This represents selling pressure.
Delta Pips
Net market movement calculated as:
Delta = Positive Pips + Negative Pips
Interpretation:
Positive value → bullish dominance
Negative value → bearish dominance
Bullish Candle Percentage
Percentage of bullish candles within the analyzed period:
Bull % = (Bullish Candles / Total Candles) × 100
This helps identify whether the market structure favours buyers or sellers.
Bull/Bear Ratio
Measures the relative strength of bullish versus bearish movement:
Ratio = |Positive Pips / Negative Pips|
Interpretation:
Ratio Market Condition
≈1 Balanced market
1.5+ Trending market
2+ Strong directional pressure
Momentum
Directional momentum is calculated as:
Momentum = Delta / Number of Candles
This metric shows how quickly the market is moving in a particular direction.
Visual Signals
The script also highlights strong directional conditions:
Green background
Bullish candles > 60%
Delta pips positive
This indicates strong bullish dominance.
Red background
Bullish candles < 40%
Delta pips negative
This indicates strong bearish dominance.
Purpose of the Indicator
This indicator helps traders quickly identify:
Market pressure (buying vs selling)
Directional dominance
Momentum strength
Potential trending conditions
It can be used across Forex, indices, commodities, and cryptocurrencies to evaluate whether the recent price action favours continuation or reversal scenarios.
If you want, I can also write a much more professional TradingView publication description (the type used by top indicators) so that when you publish it, it looks very professional and gets more followers on TradingView.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.