[blackcat] L1 Dynamic Momentum Indicator

2024년 5월 11일

**1. Overview**

"[blackcat] L1 Dynamic Momentum Indicator" is a custom TradingView indicator designed to analyze price momentum and market trends. It combines the calculation methods of Stoch (RSV) and Moving Average (SMA) to provide market overbought and oversold signals.

**2. Calculation Method**

- **RSV Value Calculation**: The RSV value is calculated using the relative relationship between the current price and the lowest and highest prices over the past 89 periods.
- **K Value Calculation**: The calculated RSV value is subjected to a 3-period Simple Moving Average (SMA) to obtain the K value.
- **D Value Calculation**: The K value is subjected to a 3-period Simple Moving Average (SMA) to obtain the D value.
- **Momentum Difference Calculation**: The difference between the 13-period Exponential Moving Average (EMA) and the 34-period EMA of closing prices is calculated, and then the moving average of this difference is calculated.

**3. Indicator Display**

- **K and D Lines**: The moving averages of the K value and D value are displayed on the chart, indicating a strong market condition when the K line is above the D line, and a weak market condition when the K line is below the D line.
- **Threshold Line**: A fixed threshold line of 50 is displayed to distinguish the overbought and oversold areas.
- **Green and Red Bars**: Green and red bars are drawn on the chart based on the relationship between the momentum difference and the average value, indicating the market trend.

**4. Usage Suggestions**

- When the market is in a strong condition, a potential reversal may occur in the overbought area after selling. When the market is in a weak condition, a potential bounce may occur in the oversold area after buying.
- Pay attention to the changes in market trends, with the appearance of green bars may indicate that the market is about to rise, and the appearance of red bars may indicate that the market is about to fall.

**5. Caution**

- The indicator is based on the provided code and may require adjustments based on market conditions.
- The accuracy of the indicator depends on the selection of calculation parameters and the reliability of market data.

2024년 5월 13일

릴리즈 노트

Correct false settings

4월 26일

릴리즈 노트

OVERVIEW
The [blackcat] L1 Dynamic Momentum Indicator combines elements of relative strength and exponential moving averages to provide a comprehensive view of market momentum. This indicator calculates key values such as Relative Strength Value (RSV), K Value, D Value, and EMA Difference. By plotting these values on the chart, traders can identify potential buy and sell opportunities based on dynamic momentum shifts 📈💹.

FEATURES

Calculates several key momentum indicators:
RSV: Relative Strength Value over a specified lookback period.
K Value: 3-period SMA of the RSV.
D Value: 3-period SMA of the K Value.
EMA Difference: Difference between short-term and long-term EMAs.
EMA Average: 3-period SMA of the EMA Difference.
Plots the following lines on the chart:
Yellow line representing the K Value.
Fuchsia line representing the D Value.
Filled area between K and D Values for visual clarity.
Threshold line at 50 for reference.
Green and red bars indicating bullish and bearish conditions, respectively.
Displays buy ('Buy') and sell ('Sell') labels on the chart for quick identification 🏷️
Generates alerts when K Value crosses above or below the D Value 🔔
HOW TO USE

Add the indicator to your TradingView chart by selecting it from the indicators list.
Observe the plotted K and D Values along with the green and red bars for trend direction.
Monitor the chart for buy and sell labels indicating potential trade opportunities.
Set up alerts based on the generated signals to receive notifications when conditions are met 📲.
Use the threshold line and filled areas for additional context in your analysis.
LIMITATIONS

The indicator may generate false signals in highly volatile or ranging markets 🌪️.
Users should combine this indicator with other forms of analysis for more reliable trading decisions.
The effectiveness of the indicator may vary depending on the asset and timeframe being analyzed.
NOTES

Ensure that you have sufficient historical data available for accurate calculations.
Test the indicator thoroughly on demo accounts before applying it to live trading 🔍.
Customize the appearance and parameters as needed to fit your trading strategy.

5월 2일

릴리즈 노트

correct as : indicator('[blackcat] L1 Dynamic Momentum Indicator', overlay=false, max_labels_count = 500)