OPEN-SOURCE SCRIPT
DUAL MOMENTUM
dual momentum
dual momentum is a visual momentum oscillator built to compare a fast momentum line and a slow momentum line inside a symmetric oscillator range.
the goal of this tool is to help traders read momentum expansion, momentum compression, bullish pressure, bearish pressure, crossovers, overbought areas and oversold areas in a clean separate pane.
this indicator is not a strategy and does not place trades. it does not predict the future and does not guarantee buy or sell signals. it is designed as a technical analysis tool for reading momentum context.
main idea
dual momentum uses a normalized price calculation to transform price movement into a bounded oscillator.
the fast line reacts more quickly to price movement.
the slow line reacts more slowly and gives a smoother momentum reference.
when the fast line is above the slow line, momentum is generally stronger on the bullish side.
when the fast line is below the slow line, momentum is generally stronger on the bearish side.
the distance between both lines helps show whether momentum is expanding or compressing.
what the indicator displays
fast momentum line
slow momentum line
bullish and bearish gradient fill
fast and slow spread ribbon
higher and lower flow bands
bull and bear rails
optional cross triangles
ob and os text markers
glow effect
separate buy and sell alert conditions
how to read the oscillator
the oscillator is centered around zero.
above zero, momentum is generally stronger.
below zero, momentum is generally weaker.
when the fast line crosses above the slow line, bullish momentum may be increasing.
when the fast line crosses below the slow line, bearish momentum may be increasing.
when both lines are far from zero, momentum is extended.
when both lines return toward zero, momentum is cooling down.
input guide
engine
source
selects the price source used for the main calculation.
common choices are close, open, high, low, hl2, hlc3 or ohlc4.
normalization window
sets how many bars are used to normalize price movement.
a higher value creates a smoother and more stable oscillator.
a lower value makes the oscillator more reactive but also more sensitive to noise.
fast smoothing
controls the speed of the fast momentum line.
lower values make the fast line react quickly.
higher values make the fast line smoother.
slow smoothing
controls the speed of the slow momentum line.
lower values make the slow line more reactive.
higher values make the slow line smoother and slower.
amplitude
controls how much the oscillator expands vertically.
higher values make the lines move farther from zero.
lower values keep the lines closer to the center.
range cap
sets the maximum positive and negative range of the oscillator.
this keeps the display symmetrical and prevents the lines from expanding too far.
flow bands
show higher / lower bands
shows or hides the upper and lower flow bands.
these bands help visualize where the oscillator is moving inside its higher and lower zones.
band length
sets the calculation length used for the flow bands.
a higher value makes the bands smoother.
a lower value makes the bands more reactive.
band smoothing
smooths the flow band calculation.
higher smoothing reduces noise.
lower smoothing reacts faster.
band inner edge
controls how deep the flow bands extend toward the center.
higher values create tighter bands.
lower values create larger bands.
bull / bear fill
gradient fill under line
shows or hides the bull and bear gradient fill around the oscillator.
this fill helps identify whether the oscillator is leaning bullish or bearish.
gradient transparency
controls the visibility of the gradient fill.
higher values make the fill lighter.
lower values make the fill stronger.
fast / slow spread ribbon
shows the colored ribbon between the fast and slow lines.
when fast is above slow, the ribbon uses the bullish color.
when fast is below slow, the ribbon uses the bearish color.
ribbons
show bull / bear rails
shows or hides the rail markers at the top and bottom of the oscillator pane.
these rails help show when the fast and slow spread becomes strong enough.
rail min strength
sets the minimum strength required before the rails appear.
higher values show fewer rail signals.
lower values show more rail signals.
signals
show cross triangles
shows or hides triangle markers when the fast line crosses the slow line.
this input is off by default to keep the chart cleaner.
show ob / os text
shows or hides overbought and oversold text markers.
the script displays only text markers, without boxes.
ob text appears above the upper rail.
os text appears below the lower rail.
overbought level
sets the level where the script can mark an ob event.
an ob event appears when the fast line crosses above this level.
oversold level
sets the level where the script can mark an os event.
an os event appears when the fast line crosses below this level.
glow
neon glow
shows or hides the glow around the fast and slow lines.
glow intensity
controls the strength of the glow.
higher values make the glow stronger.
lower values make it softer.
colors
fast / bull color
sets the color of the fast line and bullish visuals.
slow / bear color
sets the color of the slow line and bearish visuals.
buy triangle color
sets the color of the bullish triangle when cross triangles are enabled.
ob / os gold
sets the color of the ob and os text markers.
signals and alerts
buy condition
a buy condition happens when the fast line crosses above the slow line.
this does not mean automatic entry.
it only means the fast momentum line moved above the slow momentum line.
sell condition
a sell condition happens when the fast line crosses below the slow line.
this does not mean automatic exit or short entry.
it only means the fast momentum line moved below the slow momentum line.
ob condition
an ob condition happens when the fast line crosses above the overbought level.
this can show strong upside extension.
os condition
an os condition happens when the fast line crosses below the oversold level.
this can show strong downside extension.
beginner tutorial
step 1: start with the default settings
keep the default settings at first.
the default setup gives a balanced view between speed and smoothness.
step 2: watch the fast and slow lines
the fast line reacts first.
the slow line confirms the broader momentum direction.
when fast is above slow, bullish momentum is stronger.
when fast is below slow, bearish momentum is stronger.
step 3: use the zero line as balance
when both lines are above zero, momentum is generally positive.
when both lines are below zero, momentum is generally negative.
when both lines are close to zero, the market may be neutral or compressing.
step 4: read the spread ribbon
the ribbon between fast and slow shows the momentum spread.
a wider ribbon means stronger separation.
a smaller ribbon means momentum is compressing.
step 5: read the rails
rails appear when the fast and slow difference becomes strong enough.
bull rails show stronger bullish spread.
bear rails show stronger bearish spread.
step 6: use ob and os as extension warnings
ob means the fast line has reached an overbought extension area.
os means the fast line has reached an oversold extension area.
these markers are not automatic reversal signals.
they only show that momentum reached an extreme area.
step 7: use cross triangles only when needed
cross triangles are off by default.
turn them on only if you want visual markers for fast and slow crosses.
for a cleaner chart, keep them disabled and focus on the lines and ribbon.
step 8: confirm with price action
before using any signal, check the price chart.
look for trend direction, support and resistance, market structure, candle close and volume reaction.
do not use the oscillator alone.
example 1: bullish momentum shift
the fast line crosses above the slow line.
the spread ribbon turns bullish.
the oscillator is moving above zero.
this can suggest that bullish momentum is increasing.
a beginner should then check if price is also making higher highs or higher lows.
example 2: bearish momentum shift
the fast line crosses below the slow line.
the spread ribbon turns bearish.
the oscillator is moving below zero.
this can suggest that bearish momentum is increasing.
a beginner should then check if price is also making lower highs or lower lows.
example 3: overbought extension
the fast line crosses above the overbought level.
the script prints ob text above the rail.
this means momentum is stretched upward.
it does not mean price must reverse immediately.
a beginner should wait for rejection, loss of momentum or a structure shift before making any decision.
example 4: oversold extension
the fast line crosses below the oversold level.
the script prints os text below the rail.
this means momentum is stretched downward.
it does not mean price must reverse immediately.
a beginner should wait for support reaction, momentum recovery or a structure shift before making any decision.
example 5: compression before expansion
the fast and slow lines move close together near zero.
the spread ribbon becomes small.
this can show momentum compression.
if the fast line later separates strongly from the slow line, momentum may begin expanding again.
recommended beginner workflow
first, identify the market trend on the price chart.
second, check whether the oscillator is above or below zero.
third, compare the fast line with the slow line.
fourth, read the spread ribbon.
fifth, check for ob or os extension.
sixth, confirm with support, resistance, structure and candle close.
seventh, define risk before any trade idea.
best use cases
reading momentum direction
spotting momentum expansion
spotting momentum compression
watching fast and slow line crosses
identifying overbought and oversold extensions
supporting trend continuation analysis
supporting reversal watch zones
building simple momentum alerts
important notes
ob does not automatically mean sell.
os does not automatically mean buy.
cross triangles are only visual momentum markers.
the oscillator should be used with price action and risk management.
higher settings make the tool smoother.
lower settings make the tool faster.
no indicator can guarantee future market direction.
risk note
this indicator is for technical analysis and educational market study only. it does not provide financial advice, investment advice or guaranteed trading signals. all signals, levels, labels and alerts are references that require independent confirmation and proper risk management.
dual momentum is a visual momentum oscillator built to compare a fast momentum line and a slow momentum line inside a symmetric oscillator range.
the goal of this tool is to help traders read momentum expansion, momentum compression, bullish pressure, bearish pressure, crossovers, overbought areas and oversold areas in a clean separate pane.
this indicator is not a strategy and does not place trades. it does not predict the future and does not guarantee buy or sell signals. it is designed as a technical analysis tool for reading momentum context.
main idea
dual momentum uses a normalized price calculation to transform price movement into a bounded oscillator.
the fast line reacts more quickly to price movement.
the slow line reacts more slowly and gives a smoother momentum reference.
when the fast line is above the slow line, momentum is generally stronger on the bullish side.
when the fast line is below the slow line, momentum is generally stronger on the bearish side.
the distance between both lines helps show whether momentum is expanding or compressing.
what the indicator displays
fast momentum line
slow momentum line
bullish and bearish gradient fill
fast and slow spread ribbon
higher and lower flow bands
bull and bear rails
optional cross triangles
ob and os text markers
glow effect
separate buy and sell alert conditions
how to read the oscillator
the oscillator is centered around zero.
above zero, momentum is generally stronger.
below zero, momentum is generally weaker.
when the fast line crosses above the slow line, bullish momentum may be increasing.
when the fast line crosses below the slow line, bearish momentum may be increasing.
when both lines are far from zero, momentum is extended.
when both lines return toward zero, momentum is cooling down.
input guide
engine
source
selects the price source used for the main calculation.
common choices are close, open, high, low, hl2, hlc3 or ohlc4.
normalization window
sets how many bars are used to normalize price movement.
a higher value creates a smoother and more stable oscillator.
a lower value makes the oscillator more reactive but also more sensitive to noise.
fast smoothing
controls the speed of the fast momentum line.
lower values make the fast line react quickly.
higher values make the fast line smoother.
slow smoothing
controls the speed of the slow momentum line.
lower values make the slow line more reactive.
higher values make the slow line smoother and slower.
amplitude
controls how much the oscillator expands vertically.
higher values make the lines move farther from zero.
lower values keep the lines closer to the center.
range cap
sets the maximum positive and negative range of the oscillator.
this keeps the display symmetrical and prevents the lines from expanding too far.
flow bands
show higher / lower bands
shows or hides the upper and lower flow bands.
these bands help visualize where the oscillator is moving inside its higher and lower zones.
band length
sets the calculation length used for the flow bands.
a higher value makes the bands smoother.
a lower value makes the bands more reactive.
band smoothing
smooths the flow band calculation.
higher smoothing reduces noise.
lower smoothing reacts faster.
band inner edge
controls how deep the flow bands extend toward the center.
higher values create tighter bands.
lower values create larger bands.
bull / bear fill
gradient fill under line
shows or hides the bull and bear gradient fill around the oscillator.
this fill helps identify whether the oscillator is leaning bullish or bearish.
gradient transparency
controls the visibility of the gradient fill.
higher values make the fill lighter.
lower values make the fill stronger.
fast / slow spread ribbon
shows the colored ribbon between the fast and slow lines.
when fast is above slow, the ribbon uses the bullish color.
when fast is below slow, the ribbon uses the bearish color.
ribbons
show bull / bear rails
shows or hides the rail markers at the top and bottom of the oscillator pane.
these rails help show when the fast and slow spread becomes strong enough.
rail min strength
sets the minimum strength required before the rails appear.
higher values show fewer rail signals.
lower values show more rail signals.
signals
show cross triangles
shows or hides triangle markers when the fast line crosses the slow line.
this input is off by default to keep the chart cleaner.
show ob / os text
shows or hides overbought and oversold text markers.
the script displays only text markers, without boxes.
ob text appears above the upper rail.
os text appears below the lower rail.
overbought level
sets the level where the script can mark an ob event.
an ob event appears when the fast line crosses above this level.
oversold level
sets the level where the script can mark an os event.
an os event appears when the fast line crosses below this level.
glow
neon glow
shows or hides the glow around the fast and slow lines.
glow intensity
controls the strength of the glow.
higher values make the glow stronger.
lower values make it softer.
colors
fast / bull color
sets the color of the fast line and bullish visuals.
slow / bear color
sets the color of the slow line and bearish visuals.
buy triangle color
sets the color of the bullish triangle when cross triangles are enabled.
ob / os gold
sets the color of the ob and os text markers.
signals and alerts
buy condition
a buy condition happens when the fast line crosses above the slow line.
this does not mean automatic entry.
it only means the fast momentum line moved above the slow momentum line.
sell condition
a sell condition happens when the fast line crosses below the slow line.
this does not mean automatic exit or short entry.
it only means the fast momentum line moved below the slow momentum line.
ob condition
an ob condition happens when the fast line crosses above the overbought level.
this can show strong upside extension.
os condition
an os condition happens when the fast line crosses below the oversold level.
this can show strong downside extension.
beginner tutorial
step 1: start with the default settings
keep the default settings at first.
the default setup gives a balanced view between speed and smoothness.
step 2: watch the fast and slow lines
the fast line reacts first.
the slow line confirms the broader momentum direction.
when fast is above slow, bullish momentum is stronger.
when fast is below slow, bearish momentum is stronger.
step 3: use the zero line as balance
when both lines are above zero, momentum is generally positive.
when both lines are below zero, momentum is generally negative.
when both lines are close to zero, the market may be neutral or compressing.
step 4: read the spread ribbon
the ribbon between fast and slow shows the momentum spread.
a wider ribbon means stronger separation.
a smaller ribbon means momentum is compressing.
step 5: read the rails
rails appear when the fast and slow difference becomes strong enough.
bull rails show stronger bullish spread.
bear rails show stronger bearish spread.
step 6: use ob and os as extension warnings
ob means the fast line has reached an overbought extension area.
os means the fast line has reached an oversold extension area.
these markers are not automatic reversal signals.
they only show that momentum reached an extreme area.
step 7: use cross triangles only when needed
cross triangles are off by default.
turn them on only if you want visual markers for fast and slow crosses.
for a cleaner chart, keep them disabled and focus on the lines and ribbon.
step 8: confirm with price action
before using any signal, check the price chart.
look for trend direction, support and resistance, market structure, candle close and volume reaction.
do not use the oscillator alone.
example 1: bullish momentum shift
the fast line crosses above the slow line.
the spread ribbon turns bullish.
the oscillator is moving above zero.
this can suggest that bullish momentum is increasing.
a beginner should then check if price is also making higher highs or higher lows.
example 2: bearish momentum shift
the fast line crosses below the slow line.
the spread ribbon turns bearish.
the oscillator is moving below zero.
this can suggest that bearish momentum is increasing.
a beginner should then check if price is also making lower highs or lower lows.
example 3: overbought extension
the fast line crosses above the overbought level.
the script prints ob text above the rail.
this means momentum is stretched upward.
it does not mean price must reverse immediately.
a beginner should wait for rejection, loss of momentum or a structure shift before making any decision.
example 4: oversold extension
the fast line crosses below the oversold level.
the script prints os text below the rail.
this means momentum is stretched downward.
it does not mean price must reverse immediately.
a beginner should wait for support reaction, momentum recovery or a structure shift before making any decision.
example 5: compression before expansion
the fast and slow lines move close together near zero.
the spread ribbon becomes small.
this can show momentum compression.
if the fast line later separates strongly from the slow line, momentum may begin expanding again.
recommended beginner workflow
first, identify the market trend on the price chart.
second, check whether the oscillator is above or below zero.
third, compare the fast line with the slow line.
fourth, read the spread ribbon.
fifth, check for ob or os extension.
sixth, confirm with support, resistance, structure and candle close.
seventh, define risk before any trade idea.
best use cases
reading momentum direction
spotting momentum expansion
spotting momentum compression
watching fast and slow line crosses
identifying overbought and oversold extensions
supporting trend continuation analysis
supporting reversal watch zones
building simple momentum alerts
important notes
ob does not automatically mean sell.
os does not automatically mean buy.
cross triangles are only visual momentum markers.
the oscillator should be used with price action and risk management.
higher settings make the tool smoother.
lower settings make the tool faster.
no indicator can guarantee future market direction.
risk note
this indicator is for technical analysis and educational market study only. it does not provide financial advice, investment advice or guaranteed trading signals. all signals, levels, labels and alerts are references that require independent confirmation and proper risk management.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Light the candle that sleeps within you.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Light the candle that sleeps within you.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.