Adaptive Volatility-Adjusted Mom…: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

140 lines of Pine Script v5 from Adaptive Volatility Adjusted Momentum Score.txt, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

Adaptive Volatility Adjusted Momentum Score.txt

// This Pine Script® code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © notprofessorgreen

//@version=5
indicator("Adaptive Volatility-Adjusted Momentum Score", overlay=true, max_bars_back=5000)

// Inputs
// Indicator Settings
baseLookback = input.int(14, "Base Lookback Period", minval=5, group="Indicator Settings")
volThreshold = input.float(1.5, "Volatility Threshold", step=0.1, group="Indicator Settings")
scaleFactor = input.float(500, "Momentum Scale Factor", minval=100, step=50, group="Indicator Settings")
volumeCap = input.float(3.0, "Volume Weight Cap", minval=1.0, step=0.5, group="Indicator Settings")

// Overbought/Oversold Levels
overboughtLevel = input.float(25, "Overbought Level", minval=5, step=5, group="Overbought/Oversold Levels")
oversoldLevel = input.float(-25, "Oversold Level", maxval=-5, step=5, group="Overbought/Oversold Levels")

// Divergence Detection
lbR = input.int(5, "Pivot Lookback Right", minval=2, group="Divergence Detection")
lbL = input.int(5, "Pivot Lookback Left", minval=2, group="Divergence Detection")
rangeUpper = input.int(60, "Max of Lookback Range", minval=10, group="Divergence Detection")
rangeLower = input.int(5, "Min of Lookback Range", minval=1, group="Divergence Detection")

// Divergence Display
plotBull = input.bool(false, "Plot Regular Bullish", group="Divergence Display")
plotHiddenBull = input.bool(false, "Plot Hidden Bullish", group="Divergence Display")
plotBear = input.bool(false, "Plot Regular Bearish", group="Divergence Display")
plotHiddenBear = input.bool(false, "Plot Hidden Bearish", group="Divergence Display")

// Plotting Options
overlay_main = input.bool(false, "Plot Divergences on Price Chart", group="Plotting Options")
delay_plot_til_closed = input.bool(false, "Delay Plot Until Candle Closes (No Repaint)", group="Plotting Options")

// Alerts
alertZeroCrossUp = input.bool(true, "Alert on Zero Cross Up", group="Alerts")
alertZeroCrossDown = input.bool(true, "Alert on Zero Cross Down", group="Alerts")
alertBullDiv = input.bool(true, "Alert on Regular Bullish Divergence", group="Alerts")
alertHiddenBullDiv = input.bool(false, "Alert on Hidden Bullish Divergence", group="Alerts")
alertBearDiv = input.bool(true, "Alert on Regular Bearish Divergence", group="Alerts")
alertHiddenBearDiv = input.bool(false, "Alert on Hidden Bearish Divergence", group="Alerts")

// Colors
bearColor = color.purple
bullColor = color.teal
hiddenBullColor = color.new(color.teal, 80)
hiddenBearColor = color.new(color.purple, 80)
textColor = color.white
noneColor = color.new(color.white, 100)

// Calculate ATR and its statistics
atr = ta.atr(14)
avgAtr = ta.sma(atr, 14)
atrStd = ta.stdev(atr, 14)

// Safeguard against NaN or zero values
atrStdSafe = na(atrStd) or atrStd == 0 ? 0.0001 : atrStd
avgAtrSafe = na(avgAtr) ? 0.0001 : avgAtr

// Calculate dynamic lookback with bounds
dynamicLookbackRaw = baseLookback * (avgAtrSafe / atrStdSafe)
dynamicLookback = math.max(1, math.min(100, math.round(dynamicLookbackRaw)))

// Calculate momentum (rate of change)
roc = na(dynamicLookback) ? 0 : ta.roc(close, dynamicLookback)

// Normalize momentum by volatility (z-score)
priceStd = ta.stdev(close, dynamicLookback)
priceStdSafe = na(priceStd) or priceStd == 0 ? 0.0001 : priceStd
momentumScore = roc / priceStdSafe * scaleFactor

// Weight by volume
avgVolume = ta.sma(volume, dynamicLookback)
volumeWeight = na(avgVolume) or avgVolume == 0 ? 1.0 : volume / avgVolume
weightedScore = momentumScore * math.min(volumeWeight, volumeCap)

// Detect pivots for divergence
osc = weightedScore
plFound = na(ta.pivotlow(osc, lbL, lbR)) ? false : true
phFound = na(ta.pivothigh(osc, lbL, lbR)) ? false : true

// Range filter function
_inRange(cond) =>
    bars = ta.barssince(cond == true)
    rangeLower <= bars and bars <= rangeUpper

// Non-repainting condition
repaint = not delay_plot_til_closed or barstate.ishistory or barstate.isconfirmed

// Regular Bullish Divergence: Osc Higher Low, Price Lower Low
oscHL = osc[lbR] > ta.valuewhen(plFound, osc[lbR], 1) and _inRange(plFound[1])
priceLL = low[lbR] < ta.valuewhen(plFound, low[lbR], 1)
bullCond = plotBull and priceLL and oscHL and plFound and repaint

// Hidden Bullish Divergence: Osc Lower Low, Price Higher Low
oscLL = osc[lbR] < ta.valuewhen(plFound, osc[lbR], 1) and _inRange(plFound[1])
priceHL = low[lbR] > ta.valuewhen(plFound, low[lbR], 1)
hiddenBullCond = plotHiddenBull and priceHL and oscLL and plFound and repaint

// Regular Bearish Divergence: Osc Lower High, Price Higher High
oscLH = osc[lbR] < ta.valuewhen(phFound, osc[lbR], 1) and _inRange(phFound[1])
priceHH = high[lbR] > ta.valuewhen(phFound, high[lbR], 1)
bearCond = plotBear and priceHH and oscLH and phFound and repaint

// Hidden Bearish Divergence: Osc Higher High, Price Lower High
oscHH = osc[lbR] > ta.valuewhen(phFound, osc[lbR], 1) and _inRange(phFound[1])
priceLH = high[lbR] < ta.valuewhen(phFound, high[lbR], 1)
hiddenBearCond = plotHiddenBear and priceLH and oscHH and phFound and repaint

// Plot divergence labels
plot(plFound ? overlay_main ? low[lbR] : osc[lbR] : na, offset=-lbR, title="Regular Bullish", linewidth=2, color=bullCond ? bullColor : noneColor)
plotshape(bullCond ? overlay_main ? low[lbR] : osc[lbR] : na, offset=-lbR, title="Regular Bullish Label", text=" Bull ", style=shape.labelup, location=location.absolute, color=bullColor, textcolor=textColor)

plot(plFound ? overlay_main ? low[lbR] : osc[lbR] : na, offset=-lbR, title="Hidden Bullish", linewidth=2, color=hiddenBullCond ? hiddenBullColor : noneColor)
plotshape(hiddenBullCond ? overlay_main ? low[lbR] : osc[lbR] : na, offset=-lbR, title="Hidden Bullish Label", text=" H Bull ", style=shape.labelup, location=location.absolute, color=hiddenBullColor, textcolor=textColor)

plot(phFound ? overlay_main ? high[lbR] : osc[lbR] : na, offset=-lbR, title="Regular Bearish", linewidth=2, color=bearCond ? bearColor : noneColor)
plotshape(bearCond ? overlay_main ? high[lbR] : osc[lbR] : na, offset=-lbR, title="Regular Bearish Label", text=" Bear ", style=shape.labeldown, location=location.absolute, color=bearColor, textcolor=textColor)

plot(phFound ? overlay_main ? high[lbR] : osc[lbR] : na, offset=-lbR, title="Hidden Bearish", linewidth=2, color=hiddenBearCond ? hiddenBearColor : noneColor)
plotshape(hiddenBearCond ? overlay_main ? high[lbR] : osc[lbR] : na, offset=-lbR, title="Hidden Bearish Label", text=" H Bear ", style=shape.labeldown, location=location.absolute, color=hiddenBearColor, textcolor=textColor)

// Alerts
if ta.crossover(weightedScore, 0) and alertZeroCrossUp
    alert("Zero Line Cross Up Detected", alert.freq_once_per_bar)
if ta.crossunder(weightedScore, 0) and alertZeroCrossDown
    alert("Zero Line Cross Down Detected", alert.freq_once_per_bar)
if bullCond and alertBullDiv
    alert("Regular Bullish Divergence Detected", alert.freq_once_per_bar)
if hiddenBullCond and alertHiddenBullDiv
    alert("Hidden Bullish Divergence Detected", alert.freq_once_per_bar)
if bearCond and alertBearDiv
    alert("Regular Bearish Divergence Detected", alert.freq_once_per_bar)
if hiddenBearCond and alertHiddenBearDiv
    alert("Hidden Bearish Divergence Detected", alert.freq_once_per_bar)

// Plot indicator (non-overlay)
plot(weightedScore, "AVAMS", color=weightedScore > 0 ? color.teal : color.purple, display=display.pane)
hline(overboughtLevel, "Overbought", color=color.purple, linestyle=hline.style_dashed)
hline(oversoldLevel, "Oversold", color=color.teal, linestyle=hline.style_dashed)
hline(0, "Zero Line", color=color.gray, linestyle=hline.style_solid)

Overview

Adaptive Volatility-Adjusted Momentum Score divides that rate of change by price standard deviation, scales the result, and weights it by volume against a capped average. Users set the base lookback, volatility threshold, scale, volume cap, and overbought and oversold levels. Pivot settings mark regular and hidden divergences, with optional price-chart plots and alerts for zero crosses and divergences. It is declared on the price chart. Unless the close-delay option is on, plots can update before the bar closes.

ATR-based dynamic lookback
Volatility-normalized momentum score
Capped volume weighting
Regular and hidden divergence detection
Zero-cross and divergence alerts

Details

Published by

TamaraKGreen on GitHub

Code credit

notprofessorgreen, as written in the script's header

Type

Indicator, Pine Script v5

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

Signals can change on the live bar or after it closes (repainting)

File

Adaptive Volatility Adjusted Momentum Score.txt

Repository

github.com/TamaraKGreen/Pinescript-indicators-. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Base Lookback Period	`int`	`14`	`baseLookback`
Volatility Threshold	`float`	`1.5`	`volThreshold`
Momentum Scale Factor	`float`	`500`	`scaleFactor`
Volume Weight Cap	`float`	`3.0`	`volumeCap`
Overbought Level	`float`	`25`	`overboughtLevel`
Oversold Level	`float`	`-25`	`oversoldLevel`
Pivot Lookback Right	`int`	`5`	`lbR`
Pivot Lookback Left	`int`	`5`	`lbL`
Max of Lookback Range	`int`	`60`	`rangeUpper`
Min of Lookback Range	`int`	`5`	`rangeLower`
Plot Regular Bullish	`bool`	`false`	`plotBull`
Plot Hidden Bullish	`bool`	`false`	`plotHiddenBull`

Show all 22 settings

Setting	Type	Default	Variable
Plot Regular Bearish	`bool`	`false`	`plotBear`
Plot Hidden Bearish	`bool`	`false`	`plotHiddenBear`
Plot Divergences on Price Chart	`bool`	`false`	`overlay_main`
Delay Plot Until Candle Closes (No Repaint)	`bool`	`false`	`delay_plot_til_closed`
Alert on Zero Cross Up	`bool`	`true`	`alertZeroCrossUp`
Alert on Zero Cross Down	`bool`	`true`	`alertZeroCrossDown`
Alert on Regular Bullish Divergence	`bool`	`true`	`alertBullDiv`
Alert on Hidden Bullish Divergence	`bool`	`false`	`alertHiddenBullDiv`
Alert on Regular Bearish Divergence	`bool`	`true`	`alertBearDiv`
Alert on Hidden Bearish Divergence	`bool`	`false`	`alertHiddenBearDiv`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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