The RepulseMM indicator is a technical analysis tool used in the ProBuilder language to measure and display the bullish or bearish pressure exerted on each price candlestick. This is achieved through a curve that represents the momentum and sentiment of traders towards the market. The indicator is particularly useful for identifying trends and optimizing exit points in trading strategies.

Syntax:

RepulseMM[shortTerm, longTerm, smoothing](priceSeries)

• shortTerm: The number of periods used for the short-term calculation.
• longTerm: The number of periods used for the long-term calculation.
• smoothing: The smoothing factor applied to the final RepulseMM value.
• priceSeries: The price series (e.g., close, open, high, low) on which the RepulseMM is calculated.

Example:

To calculate the RepulseMM indicator using a 5-period short-term, 40-period long-term, and a smoothing factor of 3 on the closing price, the syntax would be:

RepulseMM[5,40,3](close)

Additional Information:

The RepulseMM indicator is derived by comparing the magnitude of recent gains to recent losses, attempting to determine excess buying or selling pressure on the asset. It is often used in conjunction with other indicators to confirm trends and reversals. For instance, combining the RepulseMM readings from different time frames (such as 1, 5, and 15 periods) can provide a more comprehensive view of the market momentum and help in making more informed trading decisions.

Understanding the behavior of the RepulseMM indicator across different time frames can be crucial for traders looking to gauge short-term versus long-term market sentiment. For example, a slowing down in the 15-period view, a directional change in the 5-period view, and an established trend in the 1-period view can signal a strong trading opportunity, especially near support or resistance levels.

This indicator does not include trading or financial advice but serves as a tool for analyzing market dynamics.