[KRONOS] Momentum

Description

This indicator is based on an algorithm which provides accurate momentum tracking on every timeframe. It is visualized as a colored histogram and through some other tools.
The value is calculated from an exponentially weighted moving average that is used to get a high and a low deviation, merging the last value into a range.

It includes

Overbought and oversold fixed areas. Their purpose is to facilitate the recognition of areas where the trend is likely to end or cool down. They are also marked with a background coloring.
Zero line. It typically represents a change of trend when the price crosses under or over it.
Volume shifts. Colored arrows will appear whenever a volume change is detected.

How to use?

Buy/Long on a blue confirmation arrow
Sell/Short on a red confirmation arrow
Take profit when the indicator starts showing a blue background
Take profit when the indicator starts showing a red background

extra tip: the zero line often acts as support / resistance similarly to the overbought and oversold areas