Momentum candle w/ Alert

Momentum Candle Indicator with Alerts

The Momentum Candle Indicator is designed to assist traders in identifying candles that exhibit strong momentum based on customizable criteria. This indicator visually highlights momentum candles and provides alerting functionality to ensure timely notifications about significant price movements. It is flexible and suited for various trading styles, offering easy configuration.

Key Features:

• Momentum Candle Detection: Identifies candles with a body size and wick characteristics indicative of momentum. The detection criteria are fully customizable to fit individual trading strategies.
  
  
• Customizable Parameters:
  
  - Minimum Body Size (Pips): The minimum size of the candle body, in pips, for it to be considered a momentum candle.
  - Minimum Wick-to-Body Ratio (%): Specifies the minimum percentage of wick relative to the body size to qualify as momentum.
  - Maximum Wick-to-Body Ratio (%): Sets the upper limit for the wick-to-body ratio to filter out candles with excessive wicks.
  - Timeframe: Select the timeframe for momentum candle analysis (e.g., 15 minutes, 1 hour, etc.).
  - Alert Trigger Option: Choose between alerts that trigger at candle close or in real-time when criteria are met. Real-time alerts are sent as soon as the criteria are met, but there is no guarantee that the candle will remain a valid momentum candle at its close.
  - Show Detail: Enable or disable additional labels on the chart that display metrics for valid momentum candles.
  - Enable Candle Debug: Activate debug mode to show detailed metrics for every candle, assisting in fine-tuning settings.
  
  
• Visual Feedback: Highlights valid momentum candles on the chart for easy identification. Optional labels display metrics like body size, wick size, and ratios.
  
  
• Alerts: Configurable alerts notify you whenever a momentum candle is detected, based on your defined criteria.

How to Use:

1. Add the Indicator to Your Chart: Add this script to your TradingView chart as an indicator.
   
   
2. Configure the Settings: Open the settings panel and adjust the parameters: Define the Minimum Body Size in pips. Set the Wick-to-Body Ratio thresholds. Choose the timeframe for analysis. Select the alert trigger option (real-time or candle close). Enable or disable labels and debug information.
3. Set Up Alerts:Open the TradingView alert panel. Select the condition for this script (e.g., "Momentum Candle Detected"). Customize the alert message and preferences. Click Create to activate the alert.
4. Analyze Results: Review highlighted momentum candles on the chart. Use optional debug labels for a detailed breakdown of candle metrics.

Why Use This Indicator?

Momentum candles often indicate significant market movements, providing valuable insights for trend-following or breakout strategies. This indicator automates the detection and alert process, helping traders focus on strategy execution while ensuring they don’t miss key opportunities.

With customizable parameters and real-time feedback, this tool is practical, adaptable, and designed to simplify momentum analysis.