Hull Momentum Watchlist Column For ThinkOrSwim

[Mr D]

##########################################
# Hull Momentum WL Column                #
# Displays Hull momentum relative to ATR #
##########################################

input length = 16;
input src = close;

def hma= WMA(2 * WMA(src, length / 2) - WMA(src, length), Round(Sqrt(length)))[1];
plot rsi= 100*(hma-hma[1])/atr()[1];
def up = rsi> 10;
def dn = rsi<-10;
rsi.assignValueColor( if dn or up then color.black else color.white);
assignbackgroundcolor(if up then color.green else if dn then color.red else color.dark_gray);

#######
# END #
#######

 

[K_O_Trader]

##########################################
# Hull Momentum WL Column                #
# Displays Hull momentum relative to ATR #
##########################################

input length = 16;
input src = close;

def hma= WMA(2 * WMA(src, length / 2) - WMA(src, length), Round(Sqrt(length)))[1];
plot rsi= 100*(hma-hma[1])/atr()[1];
def up = rsi> 10;
def dn = rsi<-10;
rsi.assignValueColor( if dn or up then color.black else color.white);
assignbackgroundcolor(if up then color.green else if dn then color.red else color.dark_gray);

#######
# END #
#######

can you explain what the number in the column means? thank you

 

[MerryDay]

can you explain what the number in the column means? thank you

The number is a percentage of the Hull Rate Of Change to the ATR.

It looks like the OP is no longer active.
So we can't ask him, how this helps his trading.
To become proficient in reading this indicator, the most effective method is to experiment with it firsthand. Nothing compares to hands-on experience, so add the indicator to your watchlists and observe how it operates in conjunction with your other indicators to determine if it brings any value to your strategies.

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