This indicator approximates cumulative volume delta from each bar's volume and candle body, then detrends and normalizes both price and CVD so they can be compared in a separate pane.
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
CVD Momentum Divergence plots the two smoothed series and an optional histogram of their difference. Lengths, smoothing, a scale multiplier, histogram inversion, and an optional daily reset hour change the calculation. It does not generate trade entries or exits.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Detrend length (Price)
int
100
lenPrice
Detrend length (CVD)
int
100
lenCVD
Smoothing
int
5
smooth
Reset CVD and Price?
bool
true
resetDaily
Reset Hour
int
9
resetHourInput
Reset Minute
int
0
resetMinuteInput
Scale Multiplier
float
1.0
scaleMult
Invert Histogram?
bool
false
invertHistogram
Show CVD-Price Divergence?
bool
true
showDiff
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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