Watch video here:Â https://youtu.be/AiFmn9zW6z8?si=LSFBiqf-b7mqh5NK
VMLean is a hybrid momentum indicator. Here is a chart of micro Nasdaq futures showing the VMLean components in the subpanel:
This hybrid momentum subpanel tracks both fast and slow momentum:
Velocity Histogram (multiple timeframe velocity cycles) - Fast momentum
MACD BollingerBand (“BB’s”) - Slow momentum
The Histograms respond quickly with direction changes. The BB’s are more lagging. When both are on the same side of the Zeroline, we consider this confluence in terms of direction.Â
The software can also display Excursion lines for gauging overbought/oversold (OBOS) conditions:
Background flooding in the subpanel provides an extra visual cue of the momentum bias and can be based on whether the Histogram above or below the Zeroline or alternatively can be based on market structure (with customizable swing strength):Â
Note: You can add the Swing Structure indicator (see separate post) onto the chart above if you want to see the Zigzag lines for market structure.
Lastly, the user interface includes a dropdown menu button for easy access to display options.
You can download the zip file (see link below) so you can import the software directly into the Tickblaze platform to use in your trading. If you want to access the source code, you can find everything you need here:
https://github.com/Tickblaze/Tickblaze.Scripts.ARC.
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