MA MTF Momentum Histogram

My own interpretation indicator which i call multi time frame moving averages momentum with NO LAG EMA support (Optional).
The indicator is calculated by subtracting the long-term EMA from the short-term EMA .

This pretty much resembles the MACD moving averages calculation but without the smoothing of the histogram.

Can also be used to find divergences.

The background shows the main trend with higher time frame which can be set in the settings.
Aimed to use with Higher time frame (Double or more) but can also work with lower time frame.

How to use the indicator?

Green: Momentum of asset is positive and increasing.
Lighter Green: Momentum of asset is still positive but decreasing and can revert to negative momentum.
Red: Momentum of asset is negative and increasing.
Lighter Red: Momentum of asset is still negative but increasing and revert to positive momentum.

==Background Color - Main Trend==
Green: HTF (Higher time frame) momentum is positive.
RED: HTF momentum is negative.

Feel free to comment and Follow to stay updated with upcoming scripts:

Phát hành các Ghi chú: Added AUTO Higher time frame selection with multiplier or user defined.
Phát hành các Ghi chú: Added different selection of moving averages including HMA, JMA, SMMA, VAMA and more,(Default EMA).
Note: I am considering to make a NEW variation (V2) of this script, Follow me to get notified.
Enjoy :)
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Appreciation of my work:

Bình luận

Is this indicator available for free or paid?. And how do I get it? And also, I would love to create an indicator of mine too, can you be of help?
Phản hồi
dman103 miracleabraham492
@miracleabraham492, It's free to use! You can click 'Add to favorite scripts' and add it to your chart from your favorite scripts or look up it's name in the chart indicator lookup.
To write indicators or strategies you need to learn pine script and understand or learn technical analysis and price movement concepts. If you need me to write you your own unique custom made indicator, i can do that, but most likely it won't be free. Follow me, i release quite a lot indicators which are free to use.
Phản hồi
@dman103, thank you very much for your response. So what's the cost to help write a custom indicator?
Phản hồi
dman103 miracleabraham492
@miracleabraham492, Msg me with what indicator is on your mind.
Phản hồi
Hi, Can you help me to create one script , only with just 3 conditions not complex

Phản hồi
very useful sir,thank u..if you could add some moving average options like HMA,JMA instead of ema,it's going to be awesome...btw much appreciated..
Phản hồi
dman103 SAEEDSSL90
@SAEEDSSL90, Thanks for your words and glad it is working for you well as i intended it to be. I would consider your suggestion to add different types of moving averages.
Phản hồi
dman103 dman103
@dman103, Hey, Added multiple moving averages including HMA and JMA.
Phản hồi
one of the best script even it works very well in indain market
Phản hồi
dman103 virajanand4
@virajanand4, Thanks, Glad to hear that.
Phản hồi
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