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.
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免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。