by 
MACD + Divergences [Alorse] is a momentum strategy that calculates the MACD oscillator and identifies regular and hidden divergences using pivot high and low points. It filters trade signals with dual Exponential Moving Averages (EMA 150 and 600) to ensure tra
Strategy · Pine Script v4 · Own pane
Alper
This strategy combines a WaveTrend oscillator with a dual-period RSI differential to generate trend-following entries in a separate indicator pane.
GitHub stars2on the repository
Pine versionv4older, still runs
Lines of code90
Settings16inputs
LicenceNone stated
Last update7 months ago5 Mar 2026
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 strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
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
Alper calculates fast and slow RSI values, alongside WaveTrend channel lines and overbought or oversold thresholds. Long positions trigger when the fast WaveTrend line sits above the slow line while the fast RSI exceeds the slow RSI within a configurable date window. Short entries execute on the inverse condition. The script colors bars upon WaveTrend crossovers and configures trailing stops for position risk management.
- WaveTrend oscillator with overbought and oversold thresholds
- Dual RSI differential divergence calculation
- Configurable backtest date filter window
- Trailing stop loss parameters for long and short trades
- Crossover marker plots and custom bar coloring
Details
Published by
avatar-lavventura on GitHub
Type
Strategy, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum, Divergence
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| fromMonth | int | 5 | fromMonth |
| fromDay | int | 24 | fromDay |
| thruMonth | int | 12 | thruMonth |
| thruDay | int | 22 | thruDay |
| fromYear | int | 2021 | fromYear |
| thruYear | int | 2021 | thruYear |
| Length Fast RSI | int | 5 | len_fast |
| Length Slow RSI | int | 14 | len_slow |
| Channel Length | int | 11 | n1 |
| n2 | int | 21 | n2 |
| Over Bought Level 1 | int | 70 | obLevel1 |
| Over Bought Level 2 | int | 53 | obLevel2 |
Show all 16 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Over Sold Level 1 | int | -70 | osLevel1 |
| Over Sold Level 2 | int | -53 | osLevel2 |
| Trailing Stop Loss | int | 600 | inpTrailStopL |
| Trailing Stop Loss | int | 600 | inpTrailStopS |
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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