TMA Triangular Velocity Oscillator with Real Time Divergences & Jurik Velocity

The oscillator presented here is founded on the momentum derived from a Triangular Moving Average (TMA), which is reflected in its designation as "Triangular Momentum." This nomenclature arises from the notably smooth characteristics of the TMA. The objective was to achieve real-time detection of divergences, as opposed to employing more traditional techniques that depend on the identification of the Pivot highs and lows, which are more appropriate for oscillators that exhibit greater noise.

What are the advantages of this indicator?

The benefit of utilizing a "smoother" oscillator for the detection of divergences lies in its ability to operate in real-time, as a peak or trough is identified when the first difference of the oscillator crosses zero. Additionally, smoother oscillators facilitate easier interpretation; nonetheless, they remain susceptible to lag.

This is a version of Triangular Momentum Oscillator & Real Time Divergences by [LuxAlgo]. For the momentum I used Jurik's velocity!