Session Overlap Momentum Meter

Tracks RSI momentum and candle body expansion during the London open window. Fires a confirmed momentum signal only when RSI crosses above a threshold AND the last two candle bodies are both larger than the average body size of the prior N candles — filtering out low-conviction noise during the London session.

Try it live

Inputs

Outputs / plots

Latest changelog

Initial public release.

Version history

let src = src("close")
let body = abs(close - open)
let avg_body = sma(body, body_len)
let body1_ok = body > avg_body
let prev_body = shift(body, 1)
let body2_ok = prev_body > avg_body
let both_bodies_ok = and(body1_ok, body2_ok)
let rsi_val = rsi(src, rsi_len)
let rsi_cross = crossover(rsi_val, rsi_thresh)
let raw_signal = and(rsi_cross, both_bodies_ok)
let body_ratio = body / avg_body
let rsi_smooth = ema(rsi_val, smooth_len)
let signal_strength = if(raw_signal, body_ratio, 0)
plot("rsi_line", rsi_val)
plot("rsi_smooth", rsi_smooth)
plot("rsi_threshold", rsi_thresh)
plot("body_ratio", body_ratio)
plot("signal_strength", signal_strength)
event("momentum_signal", raw_signal)

Comments (2)