Momentum Echo Oscillator [Community Edition]

Concept: The Momentum Echo Oscillator (MEO) is a modern take on classical momentum oscillators. Most indicators only look at the "now". MEO introduces the concept of Momentum Echoes—historical momentum harmonics that are weighted and blended back into the current price velocity.

Why use MEO? Standard momentum tools (like ROC or RSI) can be very "jittery" or noisy. By integrating historical echoes, MEO provides a smoother, more rhythmic representation of price flow, making it easier to spot genuine trend reversals.

Key Elements:

Primary Momentum: The immediate speed of price.

Echo Harmonics: Two adjustable lookback points that act as a "memory" for the indicator, filtering out false breakouts.

Dynamic Histogram: Visualizes the gap between the Echo Engine and the Trigger Line, highlighting acceleration and deceleration.

Settings:

Echo Weight: Adjust how much "memory" you want the indicator to have.

Smoothing: Clean up the signals for higher timeframes.

This is an open-source tool for the TradingView community. Enjoy!