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
Example 2
This indicator calculates a normalized percentage oscillator based on the distance between the closing price and a 10-period simple moving average.
GitHub stars65on the repository
Pine versionv5runs as is
Lines of code16
Settings0inputs
LicenceGPL-3.0
Last update4 days ago24 Oct 2026
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 v5 from examples/v5/tradingview-docs/v5-concepts-fills-01.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator("Example 2")
//@variable The 10-bar moving average of `close` prices.
float ma = ta.sma(close, 10)
//@variable The distance from the `ma` to the `close` price, as a percentage of the `ma`.
float oscillator = 100 * (ma - close) / ma
//@variable The ID of the `oscillator` plot for use in the `fill()` function.
oscPlotID = plot(oscillator, "Oscillator")
//@variable The ID of the zero level plot for use in the `fill()` function.
// Requires a "plot" ID since the `fill()` function can't use "plot" and "hline" IDs at the same time.
zeroPlotID = plot(0, "Zero level", color.silver, 1, plot.style_circles)
// Filll the space between the `oscPlotID` and `zeroPlotID` with 90% transparent blue.
fill(oscPlotID, zeroPlotID, color.new(color.blue, 90), "Oscillator fill")
Overview
Example 2 displays the oscillator line alongside a dotted zero reference line in a separate indicator pane. The space between the oscillator and the zero baseline is shaded with a transparent blue background fill. It serves as an educational demonstration of the Pine Script fill function and contains no adjustable user inputs, trade signals, or alert conditions.
- Percentage deviation oscillator from 10-period SMA
- Zero level baseline plot
- Dynamic plot fill between oscillator and zero line
- Separate pane oscillator display
Details
Published by
be-thomas on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum, Moving averages
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
algorithmic-tradingbacktestingcompilerfintechjavascriptpinescripttechnical-analysistradingview
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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