Momentagram [Volensy] Indicator

Overview

Momentagram is a clean momentum oscillator (separate pane) that compresses three different “pressure” readings into a single 0–100 score:

• RSI(14) (price momentum)
• MFI(14) (volume-weighted momentum)
• Price position inside a volatility channel (normalized 0–100)

The result is a fast way to spot stretched conditions (oversold/overbought) and act when momentum starts to reverse out of extremes.

How Momentagram Works

1) Channel position (0–100)

The script builds a channel that can be aligned with your main system:

• Basis line = SMA(close, Basis Period)
• Deviation = ATR(14) when Use ATR is ON, otherwise StDev(close, Basis Period)
• Outer channel = Basis ± Deviation × Outer Multiplier
• Inner channel = Basis ± Deviation × Inner Multiplier

Price is then mapped into the outer channel as a percentage:

• 0 = at/below outer lower
• 100 = at/above outer upper

2) Composite momentum score

The core score is the average of RSI, MFI, and channel position:

• momentum_raw = (RSI + MFI + price_position) / 3
• momentum_score = SMA(momentum_raw, Smoothing Period)

What You’ll See

• Histogram (0–100) with dynamic coloring by zone
• Reference lines at 20 (oversold extreme), 50 (neutral), 80 (overbought extreme)
• Shaded “critical zones”: 0–20 and 80–100 to highlight extremes

Signals (Reversal Triggers)

Momentagram’s signals are designed as exit signals from extreme zones (reversal/mean-reversion timing):

• BUY: momentum_score crosses above 20 (exits extreme oversold)
• SELL: momentum_score crosses below 80 (exits extreme overbought)

Triangles are plotted outside the 0–100 scale to keep them visible:

• BUY triangle near -10 (below the pane scale)
• SELL triangle near 110 (above the pane scale)

Last-Bar Arrow (Bias Cue)

On the most recent bar, the script prints a small arrow to reflect bias relative to the midline:

• Score ≤ 50: up arrow (oversold-side bias)
• Score > 50: down arrow (overbought-side bias)

Alerts

Alert conditions are available for both entering and exiting extremes:

• Entered extreme oversold (<20)
• BUY signal (crossed back above 20)
• Entered extreme overbought (>80)
• SELL signal (crossed back below 80)

Best For / When to Use

• Range / mean-reversion: fade extremes and act on 20/80 exits
• Trend pullbacks: use as timing while trend direction is defined elsewhere (structure, HTF bias, filters)
• Any market & timeframe: crypto, FX, indices, stocks

Settings That Matter

• Smoothing Period: higher = smoother/less noise; lower = faster/more signals
• Basis Period: match this to your main indicator if you want consistent channel positioning
• Use ATR: ATR adapts to true range; StDev reacts to dispersion of closes
• Inner / Outer Multipliers: wider channel = fewer extremes; tighter channel = more sensitivity
• Show Reversal Signals: toggle triangles for a cleaner pane

Notes & Disclaimer

Momentagram is an oscillator, not a standalone trading system. Use it with market structure, trend context, and risk management. This tool is for educational purposes only and does not constitute financial advice.