Explanation for Smiley Logic Update:
In this update, we enhance the smiley system to reflect stronger and more accurate signals, particularly when the momentum is near the upper or lower limits, or when the movement is minimal.
High and Low Bands: If the bounded_flow_momentum exceeds 90 or falls below -90, the indicator now displays a strong bull (🐂💪) or strong bear (🐻💪) smiley, respectively. This reflects strong bullish or bearish pressure.
Neutral Zones and Tight Competition: If the momentum is close to zero or in tight competition (small differences between bull and bear), the neutral balance symbol (⚖️) or a sword between bull and bear (🐂⚔️🐻) appears. This indicates equal strength or indecisiveness.
Clear Bullish or Bearish Dominance: If there's clear bullish or bearish control (i.e., consistent rising or falling momentum), the regular bull (🐂) or bear (🐻) smiley is shown.
This system ensures that smileys more accurately reflect market conditions, even in cases of horizontal movement near the upper or lower bands.
Smiley Meanings:
🐂💪: Strong bullish pressure.
🐻💪: Strong bearish pressure.
🐂⚔️🐻: Tight competition between bulls and bears.
⚖️: Neutral, no dominant force.
🐂: Bullish control.
🐻: Bearish control.