Impulse System
Overview:
- Purpose: Combines trend and momentum indicators to identify potential trading opportunities.
- Functionality: Uses a combination of the Exponential Moving Average (EMA) and the Average True Range (ATR) to gauge market momentum and trend direction.
Key Parameters:
- ATR Multiplier: Adjusts the sensitivity of the impulse system (default values may vary).
Usage:
- Color-Coded Bars: The script changes the color of the bars based on momentum and trend, helping traders quickly assess market conditions.