Momentum Indicators Library

Library "MomentumIndicators"

This is a library of 'Momentum Indicators', also denominated as oscillators.
The purpose of this library is to organize momentum indicators in just one place, making it easy to access.
In addition, it aims to allow customized versions, not being restricted to just the price value.

An example of this use case is the popular Stochastic RSI.

✅ The script is available free of charge on the TradingView platform, under the MPL 2.0 open source license, for both personal and commercial use, provided proper attribution is given.

It can be accessed at the following URL:

https://www.tradingview.com/script/J40EscDD-MomentumIndicators/

☕ Donations are welcome to support and encourage my work.

⚠️ It's worth noting that this script is a library for the Pinescript language, making it useful for programmers who want to reuse the code in their own indicators. Therefore, no pre-built graphical indicators are provided.

Indicators

1. Relative Strength Index (RSI)
2. Rate of Change (ROC)
3. Stochastic Oscillator (Stoch)
4. True Strength Index (TSI)
5. Stochastic Momentum Index (SMI)
6. Williams Percent Range (Williams %R)
7. Commodity Channel Index (CCI)
8. Ultimate Oscillator (UO)
9. Moving Average Convergence/Divergence (MACD)
10. Fisher Transform (FT)
11. Inverse Fisher Transform (IFT)
12. Premier Stochastic Oscillator (PSO)

Indicators of indicators

Stochastic:

1. Stochastic of RSI (Relative Strengh Index)
2. Stochastic of ROC (Rate of Change)
3. Stochastic of UO (Ultimate Oscillator)
4. Stochastic of TSI (True Strengh Index)
5. Stochastic of Williams R%
6. Stochastic of CCI (Commodity Channel Index).
7. Stochastic of MACD (Moving Average Convergence/Divergence)
8. Stochastic of FT (Fisher Transform)
9. Stochastic of Volume
10. Stochastic of MFI (Money Flow Index)
11. Stochastic of On OBV (Balance Volume)
12. Stochastic of PVI (Positive Volume Index)
13. Stochastic of NVI (Negative Volume Index)
14. Stochastic of PVT (Price-Volume Trend)
15. Stochastic of VO (Volume Oscillator)
16. Stochastic of VROC (Volume Rate of Change)

Inverse Fisher Transform:

1.Inverse Fisher Transform on RSI (Relative Strengh Index)
2.Inverse Fisher Transform on ROC (Rate of Change)
3.Inverse Fisher Transform on UO (Ultimate Oscillator)
4.Inverse Fisher Transform on Stochastic
5.Inverse Fisher Transform on TSI (True Strength Index)
6.Inverse Fisher Transform on CCI (Commodity Channel Index)
7.Inverse Fisher Transform on Fisher Transform (FT)
8.Inverse Fisher Transform on MACD (Moving Average Convergence/Divergence)
9.Inverse Fisher Transfor on Williams R% (Williams Percent Range)
10.Inverse Fisher Transfor on CMF (Chaikin Money Flow)
11.Inverse Fisher Transform on VO (Volume Oscillator)
12.Inverse Fisher Transform on VROC (Volume Rate of Change)

Stochastic Momentum Index:

1.Stochastic Momentum Index of RSI (Relative Strength Index)
2.Stochastic Momentum Index of ROC (Rate of Change)
3.Stochastic Momentum Index of VROC (Volume Rate of Change)
4.Stochastic Momentum Index of Williams R% (Williams Percent Range)
5.Stochastic Momentum Index of FT (Fisher Transform)
6.Stochastic Momentum Index of CCI (Commodity Channel Index)
7.Stochastic Momentum Index of UO (Ultimate Oscillator)
8.Stochastic Momentum Index of MACD (Moving Average Convergence/Divergence)
9.Stochastic Momentum Index of Volume
10.Stochastic Momentum Index of MFI (Money Flow Index)
11.Stochastic Momentum Index of CMF (Chaikin Money Flow)
12.Stochastic Momentum Index of On Balance Volume (OBV)
13.Stochastic Momentum Index of Price-Volume Trend (PVT)
14.Stochastic Momentum Index of Volume Oscillator (VO)
15.Stochastic Momentum Index of Positive Volume Index (PVI)
16.Stochastic Momentum Index of Negative Volume Index (NVI)

Relative Strength Index:

1. RSI for Volume
2. RSI for Moving Average

Sep 13, 2023

Release Notes

v2

Added:
- Momentum Oscillator
- SMI of Momentum

Fixed:
- Fisher Transform with custom source
  New parameters:
    sourceHigh (float)
    sourceLow (float)
    length (simple int)

- SMI of Fisher Transform with custom source
  New parameters:
    sourceHigh (float)
    sourceLow (float)
    length (simple int)

Sep 19, 2024

Release Notes

v3
1. Parameters related to the moving average type have been transformed from STRING to INT, using key-value logic.
The reason is that the INT type takes up less memory than STRING.

2. Added Asymmetrical RSI (credits: Alex Orekhov).

3. TSI vs SMI:
TSI and SMI aren't the same thing, so now this has been corrected.

True Strength Index (TSI): measures the price change, calculating the ratio of the price change (positive or negative) in relation to the absolute price change.

Stochastic Momentum Index (SMI): compares the closing price of an asset with the range of its prices over a certain period of time.

Sep 29, 2024

Release Notes

v4
1. Added new indicator: SMIE (Stochastic Momentum Index Ergodic).
2. Minor fix in default parameters.

Oct 9, 2024

Release Notes

v5

[FIX] SMI's formula corrected to match the original one.
Now the value is multiplied by 200 instead of 100.
So the oscillator will be in the range of -100 to 100 instead of -50 to 50.

[Feature] Added an overloaded function of SMI to support custom source for high, low, and relative range.

[Feature] Added Know Sure Thing (KST) indicator.

Oct 9, 2024

Release Notes

v6
[FIX] SMI double smooth formula fixed to use %D Length parameter.