This strategy implements Bill Williams' Awesome Oscillator (AO) calculated as the difference between two simple moving averages of the median price. It generates long and short entries using three classic signal triggers: zero-line crossovers, twin peaks diver
Strategy · Pine Script v4 · Own pane
MACD + Divergences [Alorse]
This strategy plots a MACD line, signal line, and colored histogram in a separate pane.
GitHub stars330on the repository
Pine versionv4older, still runs
Lines of code146
Settings26inputs
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 strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
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
The fast and slow averages and the signal line can each use SMA or EMA. Optional markers show MACD and signal crosses. Pivot lookbacks scan the oscillator for regular and hidden bullish and bearish divergences, with a toggle for each type. Two EMAs compare a faster and slower trend. A take-profit factor and bars-back setting are present, but the supplied code ends before entry, exit, and stop rules are defined.
- MACD and signal with SMA or EMA
- Histogram colored by direction and zero side
- Optional MACD and signal cross markers
- Regular and hidden divergence plots
- Dual EMA trend comparison
Details
Published by
Alorse on GitHub
Type
Strategy, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum, Divergence, 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
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 26 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Fall | color | #b71c1c | col_fall_below |
| Don't touch the zero line? | bool | true | donttouchzero |
| 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 |
| EMA 1 | int | 150 | maA |
| EMA 2 | int | 600 | maB |
| Bars back | int | 10 | barsBack |
| Take profit factor | float | 1.5 | tpFactor |
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.
Similar Pine Scripts
This overlay strategy combines a Cipher B WaveTrend oscillator with two optional moving averages on the price chart. It exposes WaveTrend channel and average lengths, overbought and oversold levels, buy, sell and gold dots, and regular or hidden divergence mar
Divergenced B004 is a Pine Script strategy that plots on the price chart and looks for divergences in the Squeeze Momentum Indicator. It shorts when a green-section squeeze value falls while price rises, and longs when a red-section squeeze value rises while p
This strategy executes long positions by combining a 200-period EMA trend filter, Stochastic RSI oversold crosses, and Williams Alligator retracements, supplemented by RSI divergence detection. It triggers long entries when the price trades above the 200 EMA w
This strategy calculates the Moving Average Convergence Divergence indicator and plots the MACD line, signal line, and histogram in a separate pane. It enters long positions when the MACD line crosses above the signal line and enters short positions when it cr
8D Run is a Pine Script momentum strategy inspired by Linda Bradford Raschke. It tracks consecutive price closes relative to a 5-period Simple Moving Average (SMA). When price remains above the SMA for 8 or more bars and then dips below it, the strategy enters
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers