(My goal creating this indicator) : Provide a way to categorize and label key structures on multiple time frames so I can create a plan based on those observable facts.
The Underlying Concept / What is Momentum?
The Momentum shown is derived from a Mathematical Formula, SUPERTREND. When price closes above Supertrend Its bullish Momentum when its below Supertrend...
The script is totally based on momentum , volume and price. We have used :
1: Bollinger Band Squeezes to know when a breakout might happen.
2: Used Moving Averages(SMA and EMA) to know the direction.
3: The success Rate of this strategy is above 75% and if little price action is added it can easily surpass 90% success mark.
4: Do not worry about drawdowns , we...