INVITE-ONLY SCRIPT
Sniper Entry Indicator, Crypto, Forex, Indices,
Updated
Momentum & Sideways Market Detector is a powerful TradingView indicator that combines the strengths of RSI (Relative Strength Index) and Moving Averages to identify market momentum and detect sideways movements. This versatile tool is designed to work effectively across various asset classes, including Cryptocurrencies, Forex pairs, Gold, and major stock indices like Nifty, BankNifty, Finifty, and Midcap.
Key Features:
Momentum Detection: The indicator uses RSI to gauge market momentum, highlighting overbought and oversold conditions to signal potential reversals by Displaying strength on the chart, above 90 it will be overbought and check for reversal trade, below 10 it will be oversold and check for the long opportunity.
Sideways Market Identification: It utilizes a combination of Moving Averages to detect low-volatility periods and sideways market conditions, helping traders avoid choppy markets. Area or label highlighted by blue means it is sideways, you can ignore entries in this zone.
Multi-Asset Compatibility: The indicator is optimized to perform well on diverse asset classes, including Crypto, Forex, Commodities, and Equity Indices, making it a versatile tool for traders of all types. It is compatible with Indian indices as well giving trader opportunity to see live trade with strike price entry and sl. It also trails the SL when reached the first target.
Customizable Parameters: Users can adjust RSI and Moving Average settings to suit their trading style and timeframe preferences.
Settings:
- Stock/Option (Whether you want to trade Sport or it's option, if unchecked it will look for expiry of the stock option, month, and year, user also needs to provide the call and put option)
- Spot Symbol (I have provided some of the spot symbols for the selection which will help him to configure it's F&O )
- Backtest Day (User can backtest the data by changing the day to previous lookback, it is a very good feature to test the results.)
- Remove lines from the table (If table is too long, i have provided the option to remove some of the lines from the table, provide number to remove the lines)
This indicator is a must-have for traders looking to enhance their strategy by accurately identifying market conditions and adapting their trades accordingly.
Release Notes
Added option to filter the sideways market entries.Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact ChartTechnical for more information, or follow the author's instructions below.
Please note that this is a private, invite-only script that was not analyzed by script moderators. Its compliance to House Rules is undetermined. TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases, you can find a good open-source alternative for free in our Community Scripts.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.