Purpose: The momentum Matrix utilizes the Average Directional Index (ADX) and the Average Directional Movement Index Rating (ADXR) to measure and signal the strength and direction of market trends. It is designed to assist traders in identifying trend direction, strength and reversals.

How to Apply: Choose “Momentum Matrix [Market Spotter]” through the “Invite-only scripts” on TradingView.

Characteristics: Users can customize the sensitivity settings of this indicator, allowing them to adapt it for capturing either short-term or long-term trend movements. The flexibility extends to filtering signals based on a preferred ADX value, facilitating the removal of market noise. Additionally, users have the option to activate ADX crosses, providing insights into potential shifts in trend and direction.

Alerts: TradingView alerts are notifications that keep traders informed about specific market conditions or price movements in real-time. Users can set them up based on parameters like price levels or technical indicators. These alerts help traders stay updated and make timely decisions to optimize their trading strategies. You can learn how to set alerts with our indicators by viewing this tutorial.