This indicator detects contrarian inflection points and potential market reversals by combining sentiment, volume, and price action metrics directly on the price chart. It evaluates overbought and oversold conditions with the RSI and Stochastic oscillators, hi
Indicator · Pine Script v5 · Own pane
Detrending Net Distance Ratio
The Detrending Net Distance Ratio indicator computes the difference between current close and close prices at ten different lookback periods ranging from seven to three hundred sixty bars.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code40
Settings10inputs
LicenceNone stated
Last update3 years ago10 Nov 2022
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
Detrending Net Distance Ratio sums the positive differences to create a net value and sums their absolute values to create an abs value, then divides net by abs to produce the Net_Distance_Ratio. This ratio is plotted as a single line in a separate pane, colored red, with horizontal reference lines drawn at zero, zero point five, one, negative zero point five, and negative one. The primary settings modify the period lengths applied to the detrending calculation. The indicator provides a ratio-based measure for price distance analysis but issues no buy or sell signals.
- Net Distance Ratio
- Detrending Close
- Absolute Sum
- Divergence Ratio
- Period Sum
Details
Published by
JohnsonHsiao on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Divergence, Mean reversion, Volatility & bands
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 |
|---|---|---|---|
| p_7 | int | 7 | p_7 |
| p_14 | int | 14 | p_14 |
| p_30 | int | 30 | p_30 |
| p_50 | int | 50 | p_50 |
| p_90 | int | 90 | p_90 |
| p_180 | int | 180 | p_180 |
| p_200 | int | 200 | p_200 |
| p_250 | int | 250 | p_250 |
| p_300 | int | 300 | p_300 |
| p_360 | int | 360 | p_360 |
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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