OPEN-SOURCE SCRIPT
Long Short Momentum
This indicator is designed to visualize short-term and long-term momentum trends.The indicator calculates two momentum lines based on customizable lengths: a short momentum (Short Momentum) over a smaller period and a long momentum (Long Momentum) over a longer period. These lines are plotted relative to the chosen price source, typically the closing price.
The histogram, colored dynamically based on momentum direction, gives visual cues:
The histogram, colored dynamically based on momentum direction, gives visual cues:
- Green: Both short and long momentum are positive, indicating an upward trend.
- Red: Both are negative, indicating a downward trend.
- Gray: Mixed momentum, suggesting potential trend indecision.
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