This indicator calculates momentum setups based on the Relative Strength Index (RSI) and plots in a separate pane. It offers multiple scanning modes such as Continuous Break, Continuous Retracement, Flip Break, Flip Retracement, and both regular and hidden div
Indicator · Pine Script v5 · Own pane
MACD + Divergences [Alorse]
This indicator calculates the MACD oscillator from a configurable source with fast and slow lengths, then plots the histogram, MACD line, and signal line in a separate pane.
GitHub stars330on the repository
Pine versionv5runs as is
Lines of code114
Settings21inputs
LicenceNone stated
Last update2 months ago25 Aug 2026
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
MACD + Divergences [Alorse] detects regular bullish divergences (price lower lows with oscillator higher lows), bearish divergences, and hidden versions using pivot low and high points on the oscillator with user-defined lookback ranges. Main settings control MACD parameters such as lengths, smoothing type, and colors for lines and histogram, plus divergence plotting options and pivot search ranges. The script draws exclusively in a separate pane and signals potential trend reversals via divergences but provides no exit rules or position management.
- MACD Histogram and Lines
- Regular Bullish Divergences
- Bearish Divergences
- Hidden Divergences
- Oscillator Pivot Detection
Details
Published by
Alorse on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum, Divergence
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
pinescriptpinescript-indicatorspinescript-strategiestrading-strategiestradingviewtradingview-alerttradingview-strategy
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Source | source | close | src |
| Fast Length | int | 12 | fast_length |
| Slow Length | int | 26 | slow_length |
| Signal Smoothing | int | 9 | signal_length |
| Oscillator MA Type | string | EMA | sma_source |
| Signal Line MA Type | string | EMA | sma_signal |
| MACD Line | color | #2962FF | col_macd |
| Signal Line | color | #FF6D00 | col_signal |
| Show Signals&MACD Cross | bool | true | showCross |
| Above Grow | color | #00796b | col_grow_above |
| Fall | color | #26a69a | col_fall_above |
| Below Grow | color | #ef5350 | col_grow_below |
Show all 21 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Fall | color | #b71c1c | col_fall_below |
| Pivot Lookback Right | int | 5 | lbR |
| Pivot Lookback Left | int | 5 | lbL |
| Max of Lookback Range | int | 60 | rangeUpper |
| Min of Lookback Range | int | 5 | rangeLower |
| Plot Bullish | bool | true | plotBull |
| Plot Bearish | bool | true | plotBear |
| Plot Hidden Bullish | bool | false | plotHiddenBull |
| Plot Hidden Bearish | bool | false | plotHiddenBear |
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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