Screener (MC) [AlgoAlpha]

🟠OVERVIEW
This script is a multi-symbol scanner that works as a companion to the "Momentum Concepts" indicator. It provides a comprehensive dashboard view, allowing traders to monitor the momentum signals of up to 18 different assets in real-time from a single chart. The main purpose is to offer a bird's-eye view of the market, helping you quickly identify assets with strong momentum confluence or potential reversal opportunities without having to switch between different charts.

The screener displays the status of all key components from the Momentum Concepts indicator, including the Fast Oscillator, Scalper's Momentum, Momentum Impulse Oscillator, and Hidden Liquidity Flow, organizing them into a clear and easy-to-read table.



🟠CONCEPTS
The core of this screener is built upon the analytical framework of the "Momentum Concepts" indicator, which evaluates market momentum across multiple layers: short-term, medium-term, and long-term. This screener applies those complex, proprietary calculations to each symbol in your watchlist and visualizes the current state of each component.

Each column in the table represents a specific aspect of momentum analysis:

• Fast Oscillator Columns: These columns reflect the short-term momentum. They show the immediate trend direction, whether the asset is in an overbought or oversold condition, and flag high-probability events like divergences, reversals, or diminishing momentum.
  
• Scalper's Momentum Column: This column gives insight into medium-term momentum. It distinguishes between strong, sustained moves and weakening, corrective moves, which is useful for gauging the health of a trend.
  
• Momentum Impulse Column: This column represents the dominant, long-term trend bias. It helps you understand the underlying market regime (bullish, bearish, or consolidating) to align your trades with the bigger picture.
  
• Hidden Liquidity Flow Column: This column provides a unique view into the market's underlying liquidity dynamics. It signals whether there is net buying or selling pressure and uses special coloring to highlight periods of unusually high liquidity activity, which often precedes volatile price movements.
  

By combining these perspectives, the screener justifies its utility by enabling traders to make more informed decisions based on multi-layered signal confluence.

🟠FEATURES
This screener organizes momentum data into several key columns. Here is a breakdown of each column and its possible values:

• Asset: Displays the symbol for the asset being analyzed in that row.
  
  
• Fast Oscillator Trend: Shows the immediate, short-term momentum direction.
  ▲: Indicates a bullish short-term trend.
  ▼: Indicates a bearish short-term trend.
  –: Indicates a neutral or transitional state.
  
• Fast Oscillator Valuation: Measures whether the asset is in a short-term overbought or oversold state.
  OB: Signals an "Overbought" condition, often associated with bullish exhaustion.
  OS: Signals an "Oversold" condition, often associated with bearish exhaustion.
  Neutral: The asset is trading in a neutral zone, neither overbought nor oversold.
  
• Scalper's Momentum: Assesses the strength and direction of medium-term momentum.
  Strong▲: Strong bullish momentum.
  Weak▲: Bullish momentum exists but is weakening or corrective.
  Strong▼: Strong bearish momentum.
  Weak▼: Bearish momentum exists but is weakening or corrective.
  –: Neutral or no clear medium-term momentum.
  
• Momentum Impulse: Identifies the dominant, long-term trend bias. A colored background indicates that the momentum is in a strong "impulse" phase.
  ▲: Indicates a bullish long-term bias.
  ▼: Indicates a bearish long-term bias.
  0: Indicates a neutral or ranging market condition.
  
• Hidden Liquidity Flow: Tracks underlying buying and selling pressure. The background color highlights periods of unusual liquidity activity.
  ▲: Positive liquidity flow, suggesting net buying pressure.
  ▼: Negative liquidity flow, suggesting net selling pressure.
  –: Neutral liquidity flow.
  
• Dim. Momentum: Provides an early warning that short-term momentum is beginning to fade.
  ● (Bullish Color): Bullish momentum is weakening.
  ● (Bearish Color): Bearish momentum is weakening.
  –: No diminishing momentum detected.
  
• Divergence: Flags classic or hidden divergences between price and the Fast Oscillator.
  Div▲: A bullish divergence has been detected.
  Div▼: A bearish divergence has been detected.
  –: No active divergence signal.
  
• Reversal: Signals a potential reversal when the Fast Oscillator crosses its trend line from an overbought or oversold zone.
  
  • Rev▲: A bullish reversal signal has occurred.
    
  • Rev▼: A bearish reversal signal has occurred.
    
  • –: No active reversal signal.
    

🟠USAGE
The primary function of this screener is to quickly identify trading opportunities and filter setups based on momentum confluence across your watchlist.

1. Setup and Configuration:

• Add the indicator to your chart.
  
• Go into the script settings and populate the "Watchlist" group with the symbols you wish to monitor.
  
• Adjust the settings for the various momentum components (Fast Oscillator, Scalper's Momentum, etc.) to align with your trading strategy. These settings will be universally applied to all symbols in the screener.
  

2. Interpreting the Columns for Trading Decisions:

• Momentum Impulse & Hidden Liquidity Flow: Use these columns to establish a directional bias. A bullish "▲" in both columns on an asset suggests a strong underlying uptrend with supportive buying pressure, making it a good candidate for long positions.
  
• Scalper's Momentum: Use this for entry timing and trend health. A "Strong▲" reading can confirm the strength of an uptrend, while a shift to "Weak▲" might suggest it's time to tighten stops or look for an exit.
  
• Fast Oscillator Trend & Valuation: These are best for precise entry triggers. For a "buy the dip" strategy in an uptrend, you could wait for the Fast Oscillator to show "OS" (Oversold) and then enter when the "Trend" column flips back to "▲".
  
• Dim. Momentum: This is an excellent take-profit signal. If you are in a long position and a bullish-colored "●" appears, it's a warning that the upward move is losing steam, and you might consider closing your trade.
  
• Divergence & Reversal: These columns are for identifying potential turning points. A "Div▲" or "Rev▲" signal is a strong alert that a downtrend might be ending, making the asset a prime candidate to watch for a long entry.
  

3. Finding High-Probability Setups:

• Trend Confluence: Look for assets where multiple components show alignment. For example, an ideal long setup might show a bullish "Momentum Impulse" (▲), a "Strong▲" reading in "Scalper's Momentum," and a bullish trend in the "Fast Oscillator." This indicates that the long-term, medium-term, and short-term momentums are all in agreement.
  
• Reversal and Exhaustion: Use the "Divergence" and "Reversal" columns to spot potential turning points. A "Div▲" signal appearing in an asset that is in an oversold "Fast Oscillator Valuation" zone can be a strong indication of an upcoming bounce.