Momentum wave detector
How strongly four momentum readings agree on an upside move, from 0 (no wave) to 4.5.
The detector takes four rate-of-change inputs of different speeds, ultra-fast, fast, mid and slow, and computes none of them itself. When all four are above zero, it adds points for each one that clears its threshold, with bigger moves earning more, and sums them. If any input is zero or negative, or the four disagree in sign, the score is 0, and downward waves score 0 too.
How to read it
- The line sits in its own pane below the price, between 0 and 4.5.
- Flat at 0 means no upside wave: at least one reading is zero or below, or they disagree.
- Above 3 means the four legs are mostly in their upper tiers, a strong upside wave.
- A climb into the strong band shows an upside wave building; a drop back to 0 means it has ended or turned down.
What it outputs
- Wave strength
- Upside wave strength from 0 (no aligned upside move) to 4.5 (the highest score the tiers can add up to).
Settings
- ultra_fast_threshold
- Sets the ultra-fast leg's cut-offs at 2, 1 and 0.6 times this value, earning 1.5, 1.0 and 0.5 points. Raising it leaves only sharp surges scoring; lowering it lets gentle moves score. Negative values max out this leg on every aligned bar.
- fast_threshold
- Sets the fast leg's cut-offs at 1.5, 1 and 0.6 times this value, earning 1.2, 0.8 and 0.4 points. Raising it means only strong moves score much; lowering it lets ordinary moves reach the higher tiers. Negative values max out this leg on every aligned bar.
- mid_threshold
- Sets the mid leg's cut-offs at 1.5, 1 and 0.6 times this value, earning 1.0, 0.7 and 0.3 points. Raising it cuts points on this leg; lowering it lets moderate trends reach the higher tiers. Negative values give this leg its top points on every aligned bar.
- slow_threshold
- Sets the slow leg's cut-offs at 1.5, 1 and 0.6 times this value, earning 0.8, 0.5 and 0.2 points. This leg carries the least weight, so raising it trims the score only slightly. Negative values give this leg its top points on every aligned bar.
Pitfalls
- Only upside waves score: a downward move of any size gives 0, the same as no wave, so a sell-off looks quiet.
- Four tiers add up to at most 4.5, so the code's cap of 5 never applies and a 5 never appears.
- Its four inputs must be rate-of-change indicators. On the catalog sample, which fed raw close price into all four, it read 4.5 on every bar, so check the wiring before trusting a reading.