About Trend Momentum Oscillator
Green line is “fast line”
Red / Magenta line is “slow line”
Green over magenta is positive orientation and indicates reliable trend
It is used to identify when trend ema are most likely to act as support or
resistance within context of trend.
On pullbacks to emas, if green is above magenta and both above 50, indicates
greater probability ema support holds.
On retracements to falling emas, if red is above green and both below 50,
indicates greater probability ema resistance holds.
Red / magenta line hitting the upper or lower boundary is rare and indicates a
significant oversold/overbought condition. Can get very large counter trend
bounces from this, also works as a sell signal to show momentum gas tank
All indicators have an Achilles heel. This one works best in trending markets
with structured moving averages. Can keep a trader in a trend reliably.
About - HiLO Pro Range Oscillator