Triple Momentum Confluence Oscillator

2019年12月11日

Slightly lagging oscillator, that provides strong trending signals.

Consists of 3 indicators:

'The line'- the quickest to react to price movement

'The wave'- medium term visual aid.

'The ribbon''- trending price direction.

How to use- look for confluence of all 3 turning the same color. Essentially the indicator seeks to short any oversold readings in a downtrend and vice versa.

Tip 1: 'Anchor Trigger' trigger strategy is plausible with TMCO
Tip 2: Look at multiple timaframes, every significant move is an obvious trade on one or the other timeframe.
Tip 3: This is not divergence indicator, it may or may not show you divergence.

The indicator has alerts however these are far from perfect for multitude of reasons, but they can still provide decent entries.

2019年12月12日

發行說明

Added 'Knife'

A more sensitive version of 'line'. Use to spot precise trend reversals in confluence with the ribbon and wave. E.g.- red ribbon and red wave, look for lower highs (trigger anchor) on the knife for short entries.

2019年12月15日

發行說明

Visual clarity adjustments.

Shortened the default length of line and wave= improved trigger anchor strategy as well as earlier entries.

Knife default settings same as wave and line, feel free to lower or increase the values.

My current set up 7/7 7/7 14/400 knife disabled.



Some screenshots of trades I would take on various time frames.

2019年12月18日

發行說明

V2

Visual changes to appear more like an oscillator.

Knife removed.

Ribbon moved slightly down.

RSI added - changes color when crossing 70/30 levels.

More alerts- ability to set ALL buy and sell confluences.

2019年12月21日

發行說明

Alerts now work as intended !

2019年12月29日

發行說明

v3

Added automatic convergence detection.

Small triangles= low risk/low reward.

Big triangles= high risk/high reward.

2020年1月12日

發行說明

Settings adjusted
Added OB/OS background highlights

2020年2月12日

發行說明

Ribbon now uses security function instead of simple length multiple.

Added stochastic- use to better filter trades.

Pro trend convergence indicated by diamonds.
Stochastic OB/OS indicated by Xs.
When both conditions above are met, diamond+X.

The alerts set up for only the convergence.