- Calculates the **Bollinger Bands** 📊 based on the Simple Moving Average (SMA) and the standard deviation of the closing price.
- Calculates the **Keltner Channels** 📈 using a moving average and either the true range or the range between highs and lows.
- Then, the indicator measures **momentum** ⚡ by calculating the difference between the current closing price and the average of recent highs and lows, displaying a **histogram**:
- **Green** for positive momentum 📈.
- **Red** for negative momentum 📉.
This histogram helps visualize the strength and direction of market movements, making it easier to spot potential trends or changes in market dynamics.
🔥 Pinescritlabs
Ctrader Store indicators: 🤖Pinescritlabs Ctrader Store cBots:
Fair Value Gap Sessions Gold & BTC Breakout Session Pivots(new)
Dynamic Market Structure
Analysis of Turning Points
Fibonacci Linear
Regression Multi-timeframe
Multi-Level Candle Bias
Tracker
Auto Support and
Resistance Trend Lines
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