Here is a version with alerts added
The idea for this one is from Nicolas (ProRealTime coder). It is called momentum pinball. Made some changes compared to the original (original has only period 1 and it only uses ema for calculation)
Extended version of smoothed repulse (with an addition of a sort of a floating levels zone. Since the smoothed repulse does not have known bounds, this seems to be a good way to introduce some levels to the indicator when we can not use some fixed levels
Here is a version with alerts
Try this version too - in this you can control the repulse average more precisely - in some cases the change can be significant for average multipliers different than the default 5
Super smoothed averages with an addition of floating levels and multiple coloring options (alerts already included :)). Seems that using floating levels on this type of indicators (average type of indicators) is adding to the usability since we do not have to depend on the slope only, and by using floating levels, it is converted to a sort of an "on-chart" oscillator" without doing the whole oscillator conversion job
is it possible to experiment in MT4 same like this.