INVITE-ONLY SCRIPT
Long Short Momentum (LSF) - MI06
The Long Short Momentum (LSF / MI06) uses daily price (open, high, low, close) to calculate a series of formulated data & present in this indicator capturing current trends in the market.
LSF statistically compares market volatility to both long and short momentum, assisting investors in indentifying retracement entry points in trending stocks.
The Dark Green column shows that the stock is in the Bullish momentum when turning into Light Green column indicates the bullish momentum is getting waning.
The Dark Red column indicates that the stock is in the Bearish momentum when turning into Light Red colum indicates the bearish momentum is getting weaker.
The Length of the Red/Green column = Momentum's strength (higher the column means stronger the momentum)
How to use the Long Short Momentum (LSF) indicator:
1. When a stock price breaks out of a range/sideway trend and begins to rise
2. To be validated as a trade entry, the next candle must closed above the highest price of the signal's (first Dark Green column) candle
3. The signal candle's lowest price will function as a stop-loss point
4. When the Dark Green column changes color to Light Green, if the stock closes below the signal's lowest price (the 1st Light green column) candle to confirm signal as an exit point
5. This will be the pullback entry point or an average-up/add position if the next candle is close above the highest price of the signal (the 1st Light Green column) candle
6. If a Dark/Light Red column exists between 2(two) Dark/Light Green colums during an uptrend, please use the 1st Dark Green column as the next indication.
To achieve the best results, please use this LSF in a trending market; remember to trade with alongside with the trend rather than against it.
Disclaimer:
This script indicator is solely for the purpose of education and opinion sharing, and should not be construed as investment advice or recommendations to buy or sell any security.
Get your trade advise from a legit broker, you are responsible on your own trade.
Thank you.
LSF statistically compares market volatility to both long and short momentum, assisting investors in indentifying retracement entry points in trending stocks.
The Dark Green column shows that the stock is in the Bullish momentum when turning into Light Green column indicates the bullish momentum is getting waning.
The Dark Red column indicates that the stock is in the Bearish momentum when turning into Light Red colum indicates the bearish momentum is getting weaker.
The Length of the Red/Green column = Momentum's strength (higher the column means stronger the momentum)
How to use the Long Short Momentum (LSF) indicator:
1. When a stock price breaks out of a range/sideway trend and begins to rise
2. To be validated as a trade entry, the next candle must closed above the highest price of the signal's (first Dark Green column) candle
3. The signal candle's lowest price will function as a stop-loss point
4. When the Dark Green column changes color to Light Green, if the stock closes below the signal's lowest price (the 1st Light green column) candle to confirm signal as an exit point
5. This will be the pullback entry point or an average-up/add position if the next candle is close above the highest price of the signal (the 1st Light Green column) candle
6. If a Dark/Light Red column exists between 2(two) Dark/Light Green colums during an uptrend, please use the 1st Dark Green column as the next indication.
To achieve the best results, please use this LSF in a trending market; remember to trade with alongside with the trend rather than against it.
Disclaimer:
This script indicator is solely for the purpose of education and opinion sharing, and should not be construed as investment advice or recommendations to buy or sell any security.
Get your trade advise from a legit broker, you are responsible on your own trade.
Thank you.
Invite-only script
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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.