TMO - (T)rue (M)omentum (O)scillator) MTF Scalper Version TMO Scalper is a special custom version of the popular TMO Oscillator. Scalper version was designed specifically for the lower time frames (1-5min intraday scalps). This version prints in the signals directly on top of the oscillator only when the higher aggregations are aligned with the current aggregation (the big wheels must be spinning in order for a small wheel to spin). The scalper consist of three MTF TMO oscillators. First one is the one that plot signals (should be the fastest aggregation), second serves as a short term trend gauge (good rule of thumb is to us 2-5x of the chart time frame or the first aggregation). The third one (optional) is shaded in the background & should only serve as a trend gauge for the day (usually higher time frames 30min+).
Time Frames Preffered by Traders:
1. 1m / 5m / 30m - This one is perfect for catching the fastest moves. However, during choppy days the 1min can produce more false signals.. 2. 2m / 10m / 30m - Healthy middle, the 2min aggregation nicely smooths out the 1min mess. Short term gauge is turning slowly (10min for a signal to confirm). 3. 3m / 30m / 60m - This TF is awesome for day traders that prefer to take it slow. Obviously, this combination will produce far less signals during the day.
Hope it helps.
Catatan Rilis
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Signal dots were replaced with custom trigger symbol (triangle up/down as the default).
Catatan Rilis
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+ Minor Bug Fixes + Moved New Settings Menu to Inputs + Added Up / Down Signals for Overbough & Oversold Signals Only (Extremes) + Added On/Off Switch to All TMO Aggregations
Catatan Rilis
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Bug Fixes
Catatan Rilis
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+Added OB / OS Extreme Thresholds (default set to 9 and -9 which means the extremes only will plot after the TMO goes beyond 9 or -9).
@HPotter, A comment from you, What an honor! Thank you very much.
Jumperdude
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Sorry, probably a stupid question, but I am a beginner. How does one read the indicators?
lnlcapital
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@Jumperdude, To keep it extremely simple for you: Indicator consist of two colors green & red. Any color change on this indicator is either bearish(red) or bullish(green) signal. Before use, please read the description of this indicator carefully.
filanderhampus123
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@Jumperdude, dude arrow up arrow down? but who cares just yolo it
AkmanBey
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This indicator is repainting. You can see it doesn't work at all in replay mode
breata
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Hello. Great job. Or you can change the TMA settings so that you can choose any timeframe, not 1,2,3,5,10 and so on. For example: 1,4,8,16,17. In general, any number. Thanks!
lnlcapital
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@breata, Hello, Thank you! Yes, if i delete the options,then the pinescript will create the basic time frame options automatically..(just as the chart have) so 1,3,5,10,15,30 there would be no option to use the two min. It is either these options or classic time frames. What time frame are you missing there?
breata
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@lnlcapital, I thought it was possible to set any time frame, regardless of the specific numbers)
Ultimatheule
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First time I encounter a TMO this good and useful , congratulations. However I can't access to its source code on the dedicated page. Is this normal ? I had a particular set up in combination with an ichimoku and my live OPRA options chains datas , to create an absolute monster. But I need the code.