INVITE-ONLY SCRIPT
TradeChartist Mean Momentum Drift Bands (MMDB)
™TradeChartist Mean Momentum Drift Bands (MMDB) is a Momentum indicator that plots a Mean Momentum line (calculated automatically from sample means of many lookback periods decided by the script logic) and Upper/Lower Drift Bands (calculated using standard deviation). The script helps spot price volatility, Oversold/Overbought zones and also generates high probability breakout signals without any user input.
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Features of ™TradeChartist MMDB
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Example Charts
1. MMDB used along with ™TradeChartist MMDO (Mean Momentum Drift Oscillator) on 4hr chart of
BTCUSDT
2. MMDB on 4hr chart of
XAUUSD
3. MMDB on 1hr chat of
SPX500USD
4. MMDB connected to ™TradeChartist Plug and Trade on
LINKUSDTPERP
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Note: The script doesn't repaint, so the alerts can be used with confidence. To check this, users can do bar replay to confirm if the plots and markers stay in the same place.
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Best Practice: Test with different settings first using Paper Trades before trading with real money
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Features of ™TradeChartist MMDB
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- Momentum Mean and 4 upper/lower Drift bands.
- No User input required.
- 3 Visual colour schemes - Chilli, Flame and Custom.
- MMDB table that shows asset's price, RSI and values of Mean & Upper/Lower Drift bands
- Breakout Signals (Bull and Bear arrows) based on price closing above or below the 1st Drift Band.
- Overbought and Oversold zones.
- Colour Bars based on Momentum strength.
- Alerts for Bull and Bear Breakouts (Once per bar close to be used).
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Example Charts
1. MMDB used along with ™TradeChartist MMDO (Mean Momentum Drift Oscillator) on 4hr chart of
BTCUSDT2. MMDB on 4hr chart of
XAUUSD3. MMDB on 1hr chat of
SPX500USD4. MMDB connected to ™TradeChartist Plug and Trade on
LINKUSDTPERP===================================================================================================================
Note: The script doesn't repaint, so the alerts can be used with confidence. To check this, users can do bar replay to confirm if the plots and markers stay in the same place.
===================================================================================================================
Best Practice: Test with different settings first using Paper Trades before trading with real money
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Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact TradeChartist for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases, you can find a good open-source alternative for free in our Community Scripts.
Author's instructions
″Get in touch with me via Private Message to request trial access to the Invite-only scripts and for more information.
Want to use this script on a chart?
Warning: please read before requesting access.
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Telegram - @Trade_Chartist
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Disclaimer
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