OPEN-SOURCE SCRIPT

Momentum_EMABand

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📢 Reposting this script as the previous version was shut down due to house rules. Follow for future updates.

The Momentum EMA Band V1 is a precision-engineered trading indicator designed for intraday traders and scalpers. This first version integrates three powerful technical tools — EMA Bands, Supertrend, and ADX — to help identify directional breakouts while filtering out noise and choppy conditions.

How the Indicator Works – Combined Logic
This script blends distinct but complementary tools into a single, visually intuitive system:
1️⃣ EMA Price Band – Dynamic Zone Visualization
Plots upper and lower EMA bands (default: 9-period) to form a dynamic price zone.

Green Band: Price > Upper Band → Bullish strength
Red Band: Price < Lower Band → Bearish pressure
Yellow Band: Price within Band → Neutral/consolidation zone

2️⃣ Supertrend Overlay – Reliable Trend Confirmation
Based on customizable ATR length and multiplier, Supertrend adds a directional filter.

Green Line = Uptrend
Red Line = Downtrend

3️⃣ ADX-Based No-Trade Zone – Choppy Market Filter
Manually calculated ADX (default: 14) highlights weak trend conditions.

ADX below threshold (default: 20) + Price within Band → Gray background, signaling low-momentum zones.
Optional gray triangle marker flags beginning of sideways market.

Why This Mashup & How the Indicators Work Together
This mashup creates a high-conviction, rules-based breakout system:
Supertrend defines the primary trend direction — ensuring trades are aligned with momentum.
EMA Band provides structure and timing — confirming breakouts with retest logic, reducing false entries.
ADX measures trend strength — filtering out sideways markets and enhancing trade quality.

Each component plays a specific role:
✅ Supertrend = Trend bias
✅ EMA Band = Breakout + Retest validation
✅ ADX = Momentum confirmation

Together, they form a multi-layered confirmation model that reduces noise, avoids premature entries, and improves trade accuracy.

💡 Practical Application
Momentum Breakouts: Enter when price breaks out of EMA Band with Supertrend confirmation
Avoid Whipsaws: Skip trades during gray-shaded low-momentum periods
Intraday Scalping Edge: Tailored for lower timeframes (5min–15min) where noise is frequent

⚠️ Important Disclaimer
This is Version 1 — expect future enhancements based on trader feedback.
This tool is for educational purposes only. No indicator guarantees profitability. Use with proper risk management and strategy validation.

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