BandsOnMomentum
- Indicators
- Version: 1.0
- Activations: 10
🎛 User Input Controls for BandsOnMomentum 1.0
This indicator gives traders full flexibility to customize the Momentum calculation and the band levels. Buyers will have control over the following inputs:
⚡ Momentum Settings
• ⏱ MomentumPeriod → Define the lookback period for Momentum calculation
• 🎚 MomentumPrice → Choose the applied price (Close, Open, High, Low, etc.)
• 🎨 Momentum Line Style → Solid or dotted line options
• 📏 Momentum Line Width → Adjust thickness for visibility
• 🌈 Momentum Line Color → Select your preferred color (default: Lime)
📐 Band Levels Settings
• 📏 BandsPeriod → Define the moving average period used for band calculations
• ↔️ BandsShift → Shift bands forward/backward on the chart
• 📊 Deviation Controls → Six independent deviation inputs for upper/lower bands:
• BandDeviation1 (0.3535)
• BandDeviation2 (0.707)
• BandDeviation3 (1.0605)
• BandDeviation4 (1.414)
• BandDeviation5 (1.5907)
• BandDeviation6 (1.7675)
Each deviation produces its own upper and lower band line, plus a middle line.
🎨 Style & Appearance Controls
• 🔴 Upper Band Style, Width, Color → Customize the main upper band
• 🟢 Middle Band Style, Width, Color → Customize the central equilibrium line
• 🔵 Lower Band Style, Width, Color → Customize the main lower band
• 🟠 Warning Lines (Upper & Lower) → Six dotted line styles with independent width and color controls for fine‑tuned visual alerts
🐾 Debug Settings
• 🐾 DebugMode → Toggle debug information printing (true/false)
• 📍 LastBarIndex → Choose whether to calculate on the current forming bar (0) or last closed bar (1).
📘 Product Description: BandsOnMomentum 1.0
The BandsOnMomentum 1.0 indicator overlays adaptive band arrays directly onto the Momentum curve, giving traders a clear view of trend strength, volatility compression, and breakout zones. By combining the classic Momentum oscillator with Bollinger‑style bands, this tool frames momentum shifts within dynamic envelopes, helping traders identify equilibrium, potential reversals, and risk thresholds with precision.
🔍 Core Components
• Momentum Curve
Tracks the rate of change in price, plotted smoothly for clarity and color‑coded for audit.
• Bands Levels Array
Six deviation layers plus a central midline:
• 🔴 Upper Band → potential resistance zone
• 🟢 Middle Band → equilibrium line (trend bias)
• 🔵 Lower Band → potential support zone
• Additional deviations expand/contract with volatility, framing Momentum movement.
• Warning Lines
Multiple dotted line thresholds above and below the curve provide subtle alerts for compression or extension zones.
🎯 Use Cases
• Detect momentum breakouts beyond band thresholds
• Spot volatility compression before explosive moves
• Confirm trend strength with band context
• Layer momentum analysis with adaptive bands for stronger trade setups
🛠 Design Philosophy
• Explicit buffer mapping for Momentum and band arrays
• Color separation for immediate visual audit
• Minimalist design for clarity in sub‑windows
• Debug mode for diagnostic output and audit transparency
