BASED Momentum Oscillator

This is the BASED Momentum Oscillator. I have been working on this for awhile and it's been working really great! Can be used on any security on any timeframe. Spot entries during a bullish or bearish trend, oversold and overbought conditions, can be used to spot divergences.

When the oscillator reaches the red area on top, it means the security is entering overbought conditions. When the oscillator reaches the green area at bottom, it means the security is entering oversold conditions.


Lime = Strong uptrend

Green = Uptrend

Blue = Neutral uptrend

Red = Declining uptrend

Black = Bearish decline

Grey = Cautious recovery from Bearish decline

Blank Area = no signal

Should be used with two more indicators for confirmation.


Enjoy!