Calculates normalized reversal metrics across up to ten Forex currency pairs using user-selected moving average methods, including HarmonicMA, EMA, SMA, or WMA. The indicator identifies overbought, oversold, and mean-crossing conditions using a configurable th
Indicator · Pine Script v4 · Own pane
ARI-Overextension
This indicator measures how far the close sits from a Hull moving average and plots that gap as a percentage in a separate pane.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code16
Settings2inputs
LicenceApache-2.0
Last update2 years ago28 Jan 2024
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
16 lines of Pine Script v4 from ARI-OverExtension.pine, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
study(title=" ARI-Overextension", shorttitle="ARI-OXT", format=format.price, precision=2, resolution="")
period_ = input(21, title="Period", minval=1)
trendperiod_ = input(200, title="Trend Period", minval=7)
hline(0, title="Zero Line", color = #C0C0C0)
hma = hma(close, trendperiod_)
ema = ema(close, trendperiod_)
line = 100 * (close-hma)/close
accumulate = line < 0
sell = line > 20
linecolor = sell ? #ff0000 : accumulate ? #00ff00 : #ff8000
plot(line, offset = 0, title="ema(DPO)", color= linecolor, linewidth=3)
Overview
ARI-Overextension also calculates an exponential moving average over the same trend length. The plotted line is red above 20, green below zero, and orange between those levels, beside a zero line. Trend Period sets the moving-average length; a Period input is declared but is not used in the visible calculation. There are no trade entries, exits, or stops.
- Close versus Hull moving average percentage
- Exponential moving average of the trend length
- Color-coded line around the 20 and zero levels
- Horizontal zero line
- Period and trend period inputs
Details
Published by
alessioricco on GitHub
Type
Indicator, Pine Script v4
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Period | int | 21 | period_ |
| Trend Period | int | 200 | trendperiod_ |
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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