MM-Microtrend-Reversal-IndicatorThis indicator detects microtrend reversals based on crossings of the DMI+ and DMI- signals
It indicates the trigger event on the chart as well as the reversal candle
In addition to that it shows a countdown above the bars
This is helping when multiple reversals occur.
Important: when the Bollinger Bands are crossed in the previous bars it's possible that the prognosted reversal will NOT show up
Recommended timeframes are M1 and M2
Avoid trading sideway trends, the reversals are low and reversal triggers and assumed reversal candles could get chaotic sometimes
Reversalpoint
B3 Volume Weighted MomentumB3 VWM is a momentum indicator that responds to the change of price in relationship to volume. In the end the final formula is the classic physics test question of p=mv where p is momentum, m is mass and v is velocity. In this indicator mass is the amount of volume it took to move the price where it did, and velocity is the change in price expressed as a percentage of the bar range. Then, the indicator goes through some filtering to help display the line. Should appear with very little lag work it to find the perfect bar for reversals.
This can be thought of as directional volume times directional momentum index, but truly it is not these literally, as the script doesn't discern how many contracts flew to the bid or to the ask for separation. So with this momentum indicator you can hopefully get a feel of the volume flow, yet still use this like a traditional momentum oscillator. Look to hit the reversals at peaks, and use caution when trading longs when this indicator is negative, and vise versa. There can be divergence in this oscillator, and you can help remedy poor divergences by adjusting the smoothness or the flatness of the indicator to suit your chart. Also the dead zone and mid zone are likely in need of adjustments depending on volume flow and price changes for that symbol and resolution. Defaults are a great starting point for most charts 5m to day. Swing traders might enjoy a length of 8-10 to rid some quick changes of direction in the indicator. Love to have things like this up with pivot studies for level reversal entries, like the few on the shared oil chart.
Enjoy, and I hope you like some of my other proprieties too. Feel free to comment! ~B3
B3 Awesome Oscillator IIThe Awesome Oscillator is a simple average of the HL2 mean done at length 5 and 34 and taking the difference of the two. The Elliot Wave Oscillator is similar to this as well. What I have done is make my own version AO-II for my tastes. I use DTI a bunch and when range contracts and trends aren't solid, a more responsive indicator is needed, and that is where AO-II comes in. Then in some chop or even in a slow rolling trend, they both suffer as you can see in the middle of the chart above. But in general, AO-II is the jitterier little cousin.
In this modification of a standard, I have added a (code-protected) derivative to the mix that will help bring the oscillator back to zero more often than its momentum measuring counterparts. The offset is set to 1 by default meaning it will not change in the current bar as it moves along. This also makes all the crosses appear late in history, but you will notice that the signal crossings are all still fairly lag free.
Much like in DTI, in AO-II you should note the slope and relation to zero. Divergences can be seen in AO-II, and depending on the action it can be wrong, so careful there. I think the idea behind most momentum indicators is to look for entry on overages in direction that might be looking to correct or reverse. Then once in the trade going the correct way with your indicator you stay the course till indicator tells you to exit.
