The Indicator is a long-term price momentum oscillator which is used primarily to pinpoint major bottoms in the stock market. Crosses above the zero line indicate buying pressure, crosses below the center (zero) line indicate selling pressure.
This script generates a long entry signal when the value crosses over a signal line, and/or generates a short entry signal when the value crosses under a signal line.
Also it generates a long exit signal when the value crosses under a signal line, and/or generates a short exit signal when the value crosses over a signal line.
Signals can be filtered out by , or both. To minimize repainting use higher percentage values of Time Threshold parameter.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.