The Derivative Oscillator calculates a double-exponentially smoothed Relative Strength Index (RSI) and subtracts its Simple Moving Average (SMA) to form the main oscillator line. A secondary signal line is plotted using an SMA of the main oscillator values. Th
Indicator · Pine Script v5 · Own pane
ADW - Momentum
This indicator calculates the Relative Momentum Index (RMI) and plots it in a separate pane alongside a smoothed exponential moving average line.
GitHub stars5on the repository
Pine versionv5runs as is
Lines of code56
Settings10inputs
LicenceCustom licence
Last update3 years ago29 May 2023
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
ADW - Momentum displays horizontal thresholds for overbought and oversold boundaries, plus a dashed centerline at 50. A colored fill highlights the spread between the RMI and the slow EMA. Alerts trigger whenever the RMI sits above or below the slow moving average. Users can configure the averaging length, momentum lookback, boundary values, and smoothing periods.
- Relative Momentum Index calculation
- Exponential moving average signal line
- Visual cloud fill between oscillator and signal line
- Overbought and oversold reference levels
- Bullish and bearish momentum alert conditions
Details
Published by
ADWilkinson on GitHub
Code credit
Andrew Wilkinson, as written in the script's header
Type
Draws
Separate pane below the chart
Category
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Topics
pinescripttradingviewopen-sourcepinescript-indicators
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| RMI: Averaging Length | int | 100 | Len |
| RMI: Momentum Lookback | int | 2 | Mom |
| RMI: Upper Boundary | int | 80 | OVB |
| RMI: Lower Boundary | int | 20 | OVS |
| EMA: Fast Signal | int | 5 | emaLen1 |
| EMA: Standard Signal | int | 12 | emaLen2 |
| EMA: Slow Signal | int | 26 | emaLen3 |
| Color RMI | color | color.black | color_rmi |
| Color Slow MA | color | color.red | color_slow_ma |
| Color Fill | color | color.green | color_fill |
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.
Similar Pine Scripts
This indicator calculates a modified MACD oscillator and signal line alongside a trend EMA filter, plotting the output as a stylized column histogram in a separate pane. Instead of plotting true MACD distance, it quantifies positive and negative histogram mome
This indicator calculates and plots the standard Moving Average Convergence Divergence oscillator in a separate pane. It computes the difference between a fast and slow moving average, derives a signal line through smoothing, and plots a histogram representing
Multi-Timeframe Analysis Suite calculates trend direction and momentum conditions across five user-selected timeframes using moving averages, RSI, and Stochastic oscillators. It evaluates moving average slope and oscillator levels to compute trend alignment, m
MACD-V is a volatility-normalized momentum indicator based on research by Alex Spiroglou. It calculates the standard MACD histogram and normalizes it by dividing by the Average True Range (ATR). Plotted in a separate pane as a colored histogram, it includes us
KamaFama is an indicator that translates a Freqtrade trading strategy into Pine Script for visualization. It combines Kaufman Adaptive Moving Average (KAMA), MAMA/FAMA calculations derived via Hilbert Transform, Williams %R, and correlation trend filters to ev
Related on ForexR
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers