LTF Momentum Projection

The LTF Momentum Projection indicator allows traders to visualize lower timeframe price action directly on their main chart, providing enhanced clarity on intra-bar momentum shifts and price structure. By projecting lower timeframe candles alongside the primary chart, this tool eliminates the need for constant timeframe switching while identifying critical exhaustion and momentum reversal signals.

Usage

The primary function of this indicator is to provide a granular view of price movement within a single higher timeframe (HTF) candle. It is particularly useful for traders who want to see how price evolved during the current session or a specific bar period without losing focus on the broader market trend.

Multi Timeframe Analysis

By selecting a lower timeframe (LTF) in the settings, the indicator automatically renders a sequence of candles that represent the internal movement of the current chart bar. You can adjust the visual scale to ensure the projection fits cleanly within your existing chart workspace, allowing for easy comparison between the HTF context and the LTF momentum.

Momentum Shift Detection

The indicator features both External and Internal Momentum Signals.

• External signals appear on the main chart to highlight momentum shifts on the timeframe you are currently viewing.
• Internal signals appear on the projected LTF candles to show micro-momentum shifts within the larger HTF candle. These are determined by detecting a large thrust candle followed by a smaller exhaustion candle and a subsequent confirmed move in the opposite direction.

Details

The script leverages the request.security_lower_tf function to fetch historical price data from a specified lower interval. It processes this data to calculate and render candles, wicks, and signals dynamically. The projection is rendered using TradingView drawing objects (boxes and lines) that are synchronized to the most recent chart data.

The momentum signals are based on price action logic:

1. Thrust: A strong move with significant volume and body size.
2. Exhaustion: A candle with a significantly smaller body relative to the preceding thrust.
3. Shift: A closing price that violates the midpoint of the exhaustion candle, confirming a potential reversal in momentum.

Settings

Timeframe Settings

• LTF to Display: Defines the specific lower timeframe you wish to visualize on the chart.
• Right Offset (Bars): Determines the distance from the last candle where the projection begins.

Visibility Settings

• Limit Visible Candles: When enabled, this restricts the number of LTF candles displayed to prevent clutter.
• Amount to Show: Sets the specific number of recent LTF candles to render if the limit is active.

Visual Style

• Bullish/Bearish Colors: Customizes the appearance of the projected candles.
• Vertical Scale: Adjusts how tall the projected candles appear relative to the HTF opening price.
• Candle Gap: Controls the spacing between individual projected LTF candles.
• Show HTF OHL Levels: Toggles the display of Open, High, and Low lines for the current HTF context.

Momentum Signals

• Show External Signals (Main Chart): Enables or disables markers on the primary chart candles.
• Show Internal Signals (Projection): Enables or disables markers on the projected LTF candle sequence.

FAQ

How do I interpret the momentum signals? The signals are designed to detect exhaustion. A blue triangle indicates a potential bullish momentum shift, while a red triangle indicates a potential bearish momentum shift based on the relative size of candles and their closing levels.

Can I use this for scalping? Yes, the indicator is highly effective for scalpers who need to identify entry points based on micro-structure momentum shifts that are otherwise invisible on higher timeframes.

How do I access the LTF Momentum Projection indicator? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.