OPEN-SOURCE SCRIPT
The Jewel

The Jewel is a comprehensive momentum and trend-based indicator designed to give traders clear insights into potential market shifts. By integrating RSI, Stochastic, and optional ADX filters with an EMA-based trend filter, this script helps identify high-conviction entry and exit zones for multiple trading styles, from momentum-based breakouts to mean-reversion setups.
Features
Momentum Integration:
Leverages RSI and Stochastic crossovers for real-time momentum checks, reducing noise and highlighting potential turning points.
Optional ADX Filter:
Analyzes market strength; only triggers signals when volatility and directional movement suggest strong follow-through.
EMA Trend Filter:
Identifies broad market bias (bullish vs. bearish), helping traders focus on higher-probability setups by aligning with the prevailing trend.
Caution Alerts:
Flags potentially overbought or oversold conditions when both RSI and Stochastic reach extreme zones, cautioning traders to manage risk or tighten stops.
Customizable Parameters:
Fine-tune RSI, Stochastic, ADX, and EMA settings to accommodate various assets, timeframes, and trading preferences.
How to Use
Momentum Breakouts: Watch for RSI cross above a set threshold and Stochastic cross up, confirmed by ADX strength and alignment with the EMA filter for potential breakout entries.
Mean Reversion: Look for caution signals (RSI & Stoch extremes) as early warnings for trend slowdown or reversal opportunities.
Trend Continuation: In trending markets, rely on the EMA filter to stay aligned with the primary direction. Use momentum crosses (RSI/Stochastic) to time add-on entries or exits.
Important Notes
Happy Trading!
If you find this script valuable, please share your feedback, ideas, or enhancements. Collaboration fosters a more insightful trading experience for everyone.
Features
Momentum Integration:
Leverages RSI and Stochastic crossovers for real-time momentum checks, reducing noise and highlighting potential turning points.
Optional ADX Filter:
Analyzes market strength; only triggers signals when volatility and directional movement suggest strong follow-through.
EMA Trend Filter:
Identifies broad market bias (bullish vs. bearish), helping traders focus on higher-probability setups by aligning with the prevailing trend.
Caution Alerts:
Flags potentially overbought or oversold conditions when both RSI and Stochastic reach extreme zones, cautioning traders to manage risk or tighten stops.
Customizable Parameters:
Fine-tune RSI, Stochastic, ADX, and EMA settings to accommodate various assets, timeframes, and trading preferences.
How to Use
Momentum Breakouts: Watch for RSI cross above a set threshold and Stochastic cross up, confirmed by ADX strength and alignment with the EMA filter for potential breakout entries.
Mean Reversion: Look for caution signals (RSI & Stoch extremes) as early warnings for trend slowdown or reversal opportunities.
Trend Continuation: In trending markets, rely on the EMA filter to stay aligned with the primary direction. Use momentum crosses (RSI/Stochastic) to time add-on entries or exits.
Important Notes
- Non-Investment Advice
- No Warranty
- Collaborate & Share
Happy Trading!
If you find this script valuable, please share your feedback, ideas, or enhancements. Collaboration fosters a more insightful trading experience for everyone.
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。