Momentous Volatility Bands


SETTING MANUAL

1/ What is the Momentous Volatility Bands indicator? 

Introduction: 

The Momentous Volatility Bands indicator helps traders quickly spot market turning points by combining momentum and volatility into one easy-to-use tool.

It adjusts its bands automatically based on current market conditions, clearly highlighting optimal trade entries and potential reversals. Ideal for scalping, day trading, and swing trading.

Benefits:

  • Easy Momentum Reading: Positive momentum signals rising prices, negative momentum signals falling prices.
  • Clear Price Movements: Quick momentum changes clearly indicate significant market moves.
  • Dynamic Volatility Bands: Bands expand during high volatility and narrow during calm markets.
  • Instantly Spot Overbought/Oversold: Clearly see when prices are too high (overbought) or too low (oversold).


2/ Indicator Setting - Momentous Volatility Bands

Momentum & Band Calculations

  • Momentum Period

    This sets how many bars the indicator uses to calculate momentum. A shorter period makes it more sensitive (faster signals), while a longer period smooths out noise and shows the broader trend.

  • Momentum MA Period

    Determines how many bars are used to calculate the moving average of the momentum line. It helps confirm direction and smooth out the momentum for more reliable signals.

  • Momentum MA Method

    Choose how the momentum moving average is calculated: options usually include Simple, Exponential, or Weighted Moving Averages. Each method reacts differently to recent price changes.

  • Band Period

    The number of bars used to create the volatility bands around the momentum line. Larger values produce smoother, slower-reacting bands; smaller values are quicker and more responsive.

  • Bands Deviations

    Adjusts how far the bands are placed from the centerline (usually a multiple of standard deviation). Larger values widen the bands, helping filter out minor fluctuations.



Trade Management Settings

  • ATR Period for SL Shift

    Defines how many bars are used to calculate the Average True Range (ATR), which measures recent volatility. This helps set dynamic stop-loss distances.

  • SL Shift Coefficient (from ATR)

    A multiplier applied to the ATR to determine how far your stop-loss (SL) is from the entry. A higher value gives more room; a lower value sets tighter stops.

  • TP Coefficient (from SL)

    This factor defines how far your take-profit (TP) is from the entry, based on the SL distance. For example, a value of 2 means your TP is twice as far as your SL.



Arrow & Signal Display

  • Up Arrow String

    Customize the symbol or text shown on the chart for bullish signals (e.g., “▲” or “Buy”).

  • Down Arrow String

    Customize the symbol or text for bearish signals (e.g., “▼” or “Sell”).

  • Up Arrow Color

    Pick the color used to display the bullish signal arrow on your chart.

  • Down Arrow Color

    Choose the color for the bearish signal arrow.

  • Up/Down Arrow Size

    Controls the size of the buy/sell arrows. Larger arrows are easier to spot on busy charts.







TP/SL Display Options

  • Display TP/SL on Chart

    Turn this ON to show suggested Take-Profit (TP) and Stop-Loss (SL) lines directly on your chart. This makes trade management more visual and hands-free.

  • TP Color

    Choose the color for the Take-Profit line.

  • SL Color

    Set the color for the Stop-Loss line.



Performance & Display Settings

  • Max Bars to Calculate

    Limits how many historical bars the indicator processes. Lower values improve performance, especially on older devices or long timeframes.

  • Inputs in Status Line

    Enable this to display key input values (like periods or coefficients) in the status line of your chart. It helps you quickly review your settings without reopening the menu.














  • How can I set up alerts?

To stay updated on potential trading opportunities, you can set up alerts within the Momentous Volatility Bands.

Step 1: From the indicator settings, customize your alerts by defining your desired parameters. The selected configurations will be used for notifications in Step 2.



Step 2: To receive notifications through the app, pop-ups, alert emails, Webhook URL, sound alerts, or email-to-SMS, enable these features by clicking on TradingView's “Alert” icon.


Step 3: Select Momentous Volatility Bands from the “Condition” dropdown list:












Step 4: Select “Any alert() function call”, then Click on “Notifications”.















Step 5: You choose the types of notifications you'd like to receive and click the “Create” button.

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