Confidence Meter
The Confidence Meter is the brain of Momentum Concepts. It aggregates all data into a single readability gauge that scores the current market's conviction.
Score Calculation
The meter scores from -100% (Maximum Bearish) to +100% (Maximum Bullish).
MW Trend Weight: How well is the Momentum Wave trending?
MFI Flow Weight: Is volume supporting the current move?
Stretch Penalties: If the momentum is too overextended, the confidence meter applies a "Penalty" to account for potential exhaustion.
Visual Categories
Weak (< 25%): Momentum is present but lacks conviction. High chance of chop.
Moderate (25% - 50%): A developing trend is forming.
Strong (> 50%): A high-conviction trend is in play. The further the meter stretches toward 100%, the more "Intense" the conviction.
Meter Display
Found at the far right of the indicator pane, the vertical bar provides an instant summary:
Rising Blue Bar: Confident Bullish participation.
Falling Orange Bar: Confident Bearish participation.
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