Momentum Shift [Bigbeluga]

This indicator identifies momentum shifts using a smoothed momentum calculation. It plots dynamic shift zones consisting of five levels that expand or contract based on price action. When momentum rises, the indicator creates an upward shift zone, and when momentum falls, it generates a downward shift zone. The shift zones dynamically react to price, stopping extension when a level is crossed.

🔵Key Features:

• Smoothed Momentum Calculation:
  ➣ Utilizes a Hull Moving Average (HMA) to smooth momentum and reduce noise.
  ➣ Identifies momentum shifts with crossovers between the current momentum value and its previous state.
  ➣ Uses a gradient color scheme to highlight momentum strength.
  
• Dynamic Shift Zones:
  ➣ When momentum rises, the indicator plots an upper shift zone with five incremental levels.
  
  ➣ When momentum falls, a lower shift zone is formed with five descending levels.
  
  ➣ Each level within the shift zone represents a progressively stronger momentum shift.
  
  
  
• Level Extension Control:
  ➣ Shift zones stop extending once a level is crossed by price.
  ➣ Levels closer to price act as key momentum resistance or support zones.
  ➣ If price retraces after a shift, the remaining levels stay intact for further reference.
  
• Momentum Direction Indications:
  ➣ Labels (▲ and ▼) appear at momentum shift points to indicate rising or falling momentum.
  

🔵Usage:

• Momentum-Based Entries: Identify momentum shifts early by using shift zones as confirmation for trade entries.
  
• Trend Continuation & Exhaustion: Observe which shift levels price respects—if momentum shift zones hold, the trend may continue; if they break, momentum may reverse.
  
• Dynamic Support & Resistance: Use the five-level shift zones as temporary support and resistance areas that adapt to momentum shifts.
  
• Momentum Strength Analysis: If price moves through multiple shift levels in one direction, it signals strong momentum in that direction.
  

Momentum Shift [BigBeluga] is a powerful tool for traders looking to analyze momentum shifts with structured visual zones. By combining smoothed momentum calculations with dynamic shift zones, this indicator provides a clear view of market momentum and helps traders navigate price action effectively.