DepthHouse Relative Momentum Range Grid [RMRO]
I also brought back one of the oringial features from the previously version of RMRO which is the dynamic support and resistance levels.
The grid in the background represents the signals that the RMRO oscillator would give on up to 4 times frames.
The highest of which is the top.
Based on the colors above:
Green: Strong Bullish Movement
Blue: Bullish Movement with possible consolidation or reversal
Red: Strong Bearish Movement
Light Red: Bearish Movement with possible consolidation or reversal
White: In a decision zone.
The band between represents the price between dynamic support and resistance levels.
This setting is adjustable by the "Multi Factor" and will greatly alter the results of the band.
My preferred settings shown above are:
Source: hl2 //adjusts sounce for calcuations
Length: 13 // base calculation length
Signal: 13 // adjusts potential consolidation/reversal zones
Multi Factor: 350 // adjusts S/R levels for center band
Shifted-Breakout: 7 // adjusts the grid signal timing
TF1: 5
TF2: 15
TF3: 60
TF4: 120
How to get:
As of May 1st this will be available via subscription on my website. Until then just leave a comment!
If you would like a free trial, please visit my website, leave a comment on here, or feel free to send me a PM
RMRO TRC:
RMRO Oscillator:
- Slight adjustment to base calculations
- Added the ability to adjust the multiplication factor for the grid.
**Increasing this value may decrease the number of false signals.
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact oh92 directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
↣ depthhouse.com/
Disclaimer
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact oh92 directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
↣ depthhouse.com/