iqow-double-momentum-20-3-markers.lua 4 KB · Free, MIT license
For the IQ Option web traderoom. Quadcode does not draw HIGHER and LOWER markers on mobile.
Add it to IQ Option in 3 steps
- Get the file. Press Get the script. Your browser saves a .lua file.
- Import it in IQ Option. Open the web traderoom on the Practice balance. Click the wave icon at the bottom left of the chart, open the Scripts tab, press Import script and pick the file.
- Add it to the chart. The code opens in an editor. Click the plus button under it (Add to chart). Save is only needed after you edit the code.
Full illustrated guide, with screenshots →
Risk. Trading can lose money. A marker is a chart observation, not a prediction, and this script is checked on test data, not proven in live trading. Try it on the Practice balance first.
- Momentum
- Marker companion
- On price
- Beginner
Draws the HIGHER and LOWER markers of the Double Momentum 20 3 script on the price chart, above and below the candles, so they show on every asset, JPY pairs included. No lines: add Double Momentum 20 3 as well for the two Momentum lines.
This is the price-chart companion of Double Momentum 20 3. It draws no lines, only the same HIGHER and LOWER markers, above and below the candles, so they show on every asset, JPY pairs included. Load both scripts and keep their settings equal.
The rules
HIGHER marker
Momentum(20) is above zero and Momentum(3) closes above zero after being at or below zero on the previous candle.
LOWER marker
Momentum(20) is below zero and Momentum(3) closes below zero after being at or above zero on the previous candle.
A marker appears after the next candle opens and is drawn on the candle that completed the setup. It is a chart observation, not an instruction to trade.
How to read it
Markers only, on the price chart: a green HIGHER triangle below a candle and a red LOWER triangle above it, each on the candle that completed the setup of Double Momentum 20 3. A marker appears after the next candle opens and does not move. The script draws no line, so add Double Momentum 20 3 (it opens in its own panel) to see the two Momentum lines. Both scripts use the same settings.
Indicators used
- Momentum (20)
- Momentum (3)
Same view with built-in indicators: Add two Momentum indicators (Momentum, source Close) with periods 20 and 3 and compare both lines with the zero line.
Default settings
| Trend Momentum period | 20 |
|---|---|
| Trigger Momentum period | 3 |
Every value is an input in the script settings. Platform advice is off by default.
Key points
- This is the price-chart companion of Double Momentum 20 3: the same rule, the same settings and the same HIGHER and LOWER markers.
- A script in its own panel draws its markers at the candle's price on the panel's axis, so on JPY pairs and other assets priced above about 100 they fall outside the panel.
- The companion draws them above and below the candles instead, so they show on every asset.
- Each marker sits on the candle that completed the setup and appears after the next candle opens; it does not move or disappear.
- It draws no lines: add Double Momentum 20 3 to see the two Momentum lines in its own panel.
- Test both on a Practice balance first.
Limitations. Same setup and same limits as Double Momentum 20 3: the markers describe the rule, not what the next candle will do. It draws no lines, so load the panel script to see why a marker appeared. Import both on the Practice balance and keep their settings equal. Test on the Practice balance before risking real funds.
Complete source code
The download and this preview resolve to the same reviewed file. SHA-256: 1283b14d8200ce403a83335d9a8f467f2b2d9bf8252d0f99f62453a2cf64cd3f
-- SPDX-License-Identifier: MIT
-- IQOptionWiki QCS Library
-- IQOW Double Momentum 20 3 Markers v1.0.0
--
-- Price-chart companion of IQOW Double Momentum 20 3 (double-momentum-20-3).
-- It draws no lines: only that script's HIGHER and LOWER markers, above and
-- below the candles on the price chart. A script with its own panel draws its
-- markers at the candle's price on the panel's axis, so on assets priced above
-- about 100 (for example JPY pairs) they fall outside the panel. Add IQOW
-- Double Momentum 20 3 as well to see the two Momentum lines. Keep the
-- settings of both scripts equal.
--
-- Two Momentum lines on the same chart. Momentum is the close minus the close
-- N candles ago, so it sits above zero when price is higher than it was N
-- candles back. Momentum(20) is the trend filter; Momentum(3) is the trigger.
--
-- HIGHER: Momentum(20) is above zero and Momentum(3) closes above zero after
-- being at or below zero on the previous candle.
-- LOWER: Momentum(20) is below zero and Momentum(3) closes below zero after
-- being at or above zero on the previous candle.
--
-- Markers use the previous completed candle: they appear after the next candle
-- opens and are shifted back one bar onto the candle that qualified.
-- Educational chart tool only. It does not place trades, choose an expiry,
-- predict outcomes, or guarantee results. Test on a Practice balance first.
instrument {
name = "IQOW Double Momentum 20 3 Markers",
short_name = "MK MOM 20/3",
overlay = true
}
input_group {
"1. Momentum settings",
trend_period = input (20, "Trend Momentum period", input.integer, 2, 200),
trigger_period = input (3, "Trigger Momentum period", input.integer, 1, 100)
}
input_group {
"Display and advice",
signals_visible = input { default = true, type = input.plot_visibility },
advice_enabled = input { default = false, name = "Enable platform advice", type = input.boolean }
}
input_group {
"Colors",
higher_color = input { default = "#25E154", type = input.color },
lower_color = input { default = "#FF6C58", type = input.color },
signal_text_color = input { default = "#FFFFFF", type = input.color }
}
-- Momentum = close - close[N].
trend_momentum = change (close, trend_period)
trigger_momentum = change (close, trigger_period)
-- Current-bar scalars for the Lua rule logic.
local trend_now = get_value (trend_momentum, nil)
local trigger_now = get_value (trigger_momentum, nil)
local trigger_previous = get_value (trigger_momentum [1], nil)
-- The trigger must be the faster of the two lines.
local periods_are_valid = trigger_period < trend_period
local data_is_ready =
periods_are_valid and
trend_now ~= nil and
trigger_now ~= nil and
trigger_previous ~= nil
-- Event: the trigger closes across zero on this candle while the trend
-- Momentum already sits on the same side of zero.
higher_setup = conditional (
data_is_ready and trend_now > 0 and trigger_previous <= 0 and trigger_now > 0
)
lower_setup = conditional (
data_is_ready and trend_now < 0 and trigger_previous >= 0 and trigger_now < 0
)
-- Confirm only a new setup on the previous completed candle.
confirmed_higher = conditional (
get_value (higher_setup [1], false) and
not get_value (higher_setup [2], false)
)
confirmed_lower = conditional (
get_value (lower_setup [1], false) and
not get_value (lower_setup [2], false)
)
-- Markers on the price chart: HIGHER below the candle, LOWER above it. Offset -1
-- puts each one on the candle that completed the setup (the confirmation above
-- is evaluated when the next candle opens).
if signals_visible then
plot_shape (
confirmed_higher,
"MOM 20/3 HIGHER",
shape_style.triangleup,
shape_size.small,
higher_color,
shape_location.belowbar,
-1,
"HIGHER",
signal_text_color
)
plot_shape (
confirmed_lower,
"MOM 20/3 LOWER",
shape_style.triangledown,
shape_size.small,
lower_color,
shape_location.abovebar,
-1,
"LOWER",
signal_text_color
)
end
-- QCS advice is a platform notification state only; it does not place trades.
if advice_enabled and
get_value (confirmed_higher, false) and
not get_value (confirmed_lower, false) then
advise (advice.buy)
elseif advice_enabled and
get_value (confirmed_lower, false) and
not get_value (confirmed_higher, false) then
advise (advice.sell)
else
advise (advice.neutral)
end
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