OPEN-SOURCE SCRIPT
TMO Trade Trigger System v1.2
TMO Trade Trigger System
Originally designed for the 1W timeframe on the IREN chart using the -55/+55 thresholds.
Apply to other charts and timeframes WITH CAUTION.
Momentum zone thresholds should almost certainly be adjusted manually for different timeframes (i.e., for 4H chart, I might try -73/+73).
TMO Trade Trigger System is a momentum-based trading indicator built around the True Momentum Oscillator and TTM Squeeze framework.
The indicator is designed to separate trade logic into two stages:
1. Momentum exhaustion arms the setup.
2. TMO ribbon reversal confirms the trade.
The core idea is simple:
When the TMO signal line crosses down through a user-defined oversold level, the long setup becomes ARMED. The trade does not trigger immediately. Instead, the indicator waits for the TMO ribbon to close green, signaling a momentum reversal. Once confirmed, the script displays a BUY NEXT OPEN signal.
For exits, when the TMO signal line crosses up through a user-defined overbought level, the exit setup becomes ARMED. The trade remains open until the ribbon closes red, at which point the script displays a SELL NEXT OPEN signal.
The indicator also includes add-on logic. If a trade is already open and the TMO signal line crosses back down through the entry arming level before the final exit condition is met, the system can arm a new add-on entry. Once the ribbon turns green again, it displays ADD NEXT OPEN. This allows traders to visualize potential dip-buying opportunities within an existing long trade.
Features:
* Separate oscillator pane showing the TMO Main Line, Signal Line, and ribbon
* Adjustable entry and exit arming levels
* Default weekly-style levels: -55 entry arming and +55 exit arming
* Adaptable to lower timeframes, such as 4H, by adjusting the thresholds
* On-chart markers for ARMED, BUY NEXT OPEN, ADD NEXT OPEN, and SELL NEXT OPEN
* Optional TTM Squeeze dots
* Customizable line, ribbon, zone, and marker colors
* Alert conditions for entry armed, buy trigger, add trigger, exit armed, sell trigger, and any trade event
* Designed for bar-close confirmation and next-open execution planning
Suggested use:
Use on the 1W chart timeframe with the following settings:
Entry arming level: -55
Exit arming level: +55
Alerts should generally be set to Once Per Bar Close so that signals are confirmed only after the candle closes.
Logic summary:
Entry Armed: TMO signal line crosses down through the entry arming level.
Buy Triggered: Entry is armed and the TMO ribbon turns green.
Add Armed: A trade is already open and the signal line crosses down through the entry arming level again.
Add Triggered: Add is armed and the ribbon turns green again.
Exit Armed: TMO signal line crosses up through the exit arming level.
Sell Triggered: Exit is armed and the TMO ribbon turns red.
Notes:
This indicator is intended as a visual and alerting tool, not an automated trading system. It does not account for option pricing, implied volatility, liquidity, bid/ask spreads, earnings risk, position sizing, or broader market conditions.
Use it as part of a complete trading process.
Credit: This tool builds on the True Momentum Oscillator and TTM Squeeze concept, including logic adapted from the public “TMO with TTM Squeeze” indicator by ssksubam.
Not financial advice.
Originally designed for the 1W timeframe on the IREN chart using the -55/+55 thresholds.
Apply to other charts and timeframes WITH CAUTION.
Momentum zone thresholds should almost certainly be adjusted manually for different timeframes (i.e., for 4H chart, I might try -73/+73).
TMO Trade Trigger System is a momentum-based trading indicator built around the True Momentum Oscillator and TTM Squeeze framework.
The indicator is designed to separate trade logic into two stages:
1. Momentum exhaustion arms the setup.
2. TMO ribbon reversal confirms the trade.
The core idea is simple:
When the TMO signal line crosses down through a user-defined oversold level, the long setup becomes ARMED. The trade does not trigger immediately. Instead, the indicator waits for the TMO ribbon to close green, signaling a momentum reversal. Once confirmed, the script displays a BUY NEXT OPEN signal.
For exits, when the TMO signal line crosses up through a user-defined overbought level, the exit setup becomes ARMED. The trade remains open until the ribbon closes red, at which point the script displays a SELL NEXT OPEN signal.
The indicator also includes add-on logic. If a trade is already open and the TMO signal line crosses back down through the entry arming level before the final exit condition is met, the system can arm a new add-on entry. Once the ribbon turns green again, it displays ADD NEXT OPEN. This allows traders to visualize potential dip-buying opportunities within an existing long trade.
Features:
* Separate oscillator pane showing the TMO Main Line, Signal Line, and ribbon
* Adjustable entry and exit arming levels
* Default weekly-style levels: -55 entry arming and +55 exit arming
* Adaptable to lower timeframes, such as 4H, by adjusting the thresholds
* On-chart markers for ARMED, BUY NEXT OPEN, ADD NEXT OPEN, and SELL NEXT OPEN
* Optional TTM Squeeze dots
* Customizable line, ribbon, zone, and marker colors
* Alert conditions for entry armed, buy trigger, add trigger, exit armed, sell trigger, and any trade event
* Designed for bar-close confirmation and next-open execution planning
Suggested use:
Use on the 1W chart timeframe with the following settings:
Entry arming level: -55
Exit arming level: +55
Alerts should generally be set to Once Per Bar Close so that signals are confirmed only after the candle closes.
Logic summary:
Entry Armed: TMO signal line crosses down through the entry arming level.
Buy Triggered: Entry is armed and the TMO ribbon turns green.
Add Armed: A trade is already open and the signal line crosses down through the entry arming level again.
Add Triggered: Add is armed and the ribbon turns green again.
Exit Armed: TMO signal line crosses up through the exit arming level.
Sell Triggered: Exit is armed and the TMO ribbon turns red.
Notes:
This indicator is intended as a visual and alerting tool, not an automated trading system. It does not account for option pricing, implied volatility, liquidity, bid/ask spreads, earnings risk, position sizing, or broader market conditions.
Use it as part of a complete trading process.
Credit: This tool builds on the True Momentum Oscillator and TTM Squeeze concept, including logic adapted from the public “TMO with TTM Squeeze” indicator by ssksubam.
Not financial advice.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.