Fibonacci Momentum EMA [Volensy] is an overlay, trend-following pullback signal indicator that blends a rolling Fibonacci structure with EMA trend direction, Momentum + RSI confirmation, and a volume spike filter. The goal is to surface cleaner long/short opportunities when price pulls back into key Fib areas in the direction of the prevailing trend, with participation confirmation.
How It Works
Rolling Fibonacci levels: The script calculates the Highest High and Lowest Low over the last Fibonacci Lookback Period, then derives Fib levels (23.6 / 38.2 / 50 / 61.8 / 78.6) from that range.
Touch detection with tolerance: A Fib level is considered “touched” when the close is within a tolerance of 1% of the current Fib range.
EMA trend structure: Bullish trend requires Fast EMA > Slow EMA and price > Fast EMA. Bearish trend requires Fast EMA < Slow EMA and price < Fast EMA.
Momentum filter: Uses Momentum (MOM) direction plus RSI bounds to avoid taking signals during extreme RSI conditions while still demanding directional pressure.
Volume spike confirmation: Signals require volume to exceed a moving average baseline: volume > SMA(volume, Volume SMA Length) × Volume Spike Multiplier.
