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 v4 · Own pane
Example 4
This indicator smooths each of the open, high, low and close series with a simple moving average and plots those four values as candles.
GitHub stars65on the repository
Pine versionv4older, still runs
Lines of code10
Settings1inputs
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
10 lines of Pine Script v4 from examples/v4/tradingview-docs/v4-annotations-custom-ohlc-bars-and-candles-03.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
study("Example 4")
len = input(9)
smooth(x) =>
sma(x, len)
o = smooth(open)
h = smooth(high)
l = smooth(low)
c = smooth(close)
plotcandle(o, h, l, c)
Overview
A user-defined function applies the same length to every price component, then plotcandle draws the result in a separate pane. The only setting is the smoothing length, which defaults to nine bars and changes how heavily the candle bodies and wicks are averaged. It does not generate trade signals, entries, exits or position sizing.
- SMA smoothing of OHLC
- User-defined smooth function
- Custom candle plot
- Adjustable smoothing length
Details
Published by
be-thomas on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
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
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| len | int | 9 | len |
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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