Enhanced stochastic Momentum Oscillator with signals

wczoraj

Overall Benefits of This Enhanced SMO Script

Fully Customizable Inputs – period, smoothing type, source, and colors.

Gradient Momentum Ribbon – visually communicates strength and direction.

Overbought/Oversold Highlights – both lines and background for clarity.

Alert System Built-In – monitors crossovers and zone entries/exits.

Error-Resistant Calculations – prevents division by zero, avoids Pine v5 multi-line ternary issues.

Highly Visual – suitable for quick decision-making, not just raw numbers.

Flexible for Any Timeframe – can be used on multi-timeframe analysis.

Table that shows current condition (neutral, overbought and oversold)

Try with my other indicator highlighted in picture-

17 godzin temu

Informacje o Wersji

Update 2.0

Updated to Version 6
Added volume information for direction confirmation and strength;
Volume row with spike highlighting
OBV row with % change
Triple OBV row showing Bullish/Bearish/Neutral under Status

How to implement the strategy
Identify the pattern: Look for a triple top, where an asset's price reaches approximately the same high level three times, with a low point between each peak.
Analyze volume during the peaks: Observe the On-Balance Volume (OBV) indicator during these peaks.
Bearish divergence: If the price makes a new high on the third peak, but the OBV makes a lower high, this is a bearish divergence. This indicates that even though the price is rising, the volume behind the move is decreasing, suggesting that buying pressure is weakening.
Strong trend confirmation: If the price makes a new high on the third peak and the OBV also makes a new high, it confirms the strength of the uptrend and the strategy might not be appropriate at that time.
Confirm the reversal:
If you see the bearish divergence (higher price, lower OBV on the third peak), wait for confirmation. A common confirmation is for the price to break below a support level that formed between the peaks.
The OBV line itself may also break a previous support level during this period.
Enter a short position: Once the price breaks the support level, consider entering a short position, as the triple top pattern combined with the OBV divergence suggests a reversal is likely.

17 godzin temu

Informacje o Wersji

Update 3.0

Added a “Sentiment” row that evaluates market bias based on:
SMO+: Overbought / Oversold
Volume: Rising / Falling / Spike
Triple OBV: Bullish / Bearish / Neutral
Simple scoring system:
Bullish sentiment if:
SMO+ is oversold (k < 20) or near midline rising
Volume is rising
Triple OBV is bullish

Bearish sentiment if:
SMO+ is overbought (k > 80) or midline falling
Volume is falling
Triple OBV is bearish

Otherwise: Neutral

5 godzin temu

Informacje o Wersji

Update 4.0

Simplified text box to combine K and D overbought and oversold signals
Current ATR (based on chart timeframe)
Daily ATR (from 1D timeframe)
Current ATR Top / Bottom levels
Daily ATR Top / Bottom levels
Integrated into a clean expanded table layout

2 godziny temu

Informacje o Wersji

Minor tweaks

2 godziny temu

Informacje o Wersji

bug fixes