An indicator that converts RSI, MACD histogram, Bollinger position, ATR, Stochastic, OBV change, ADX and VWAP deviation into z-scores, combines them with adjustable weights into one composite score, and smooths it with a Kalman filter.
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
Buy and sell labels appear when the score crosses set thresholds, with a bar cooldown between signals, and a five-class regime is classified. A summary table and score line are optional. Despite the name, it is a weighted formula rather than a trained model. It draws on the price chart.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Z-Score Lookback
int
20
lookback
RSI Period
int
14
rsiLen
MACD Fast
int
12
macdFast
MACD Slow
int
26
macdSlow
MACD Signal
int
9
macdSig
BB Length
int
20
bbLen
BB Std Dev
float
2.0
bbMult
Stoch %K
int
14
stochK
Stoch %D
int
3
stochD
ADX Length
int
14
adxLen
OBV Delta Bars
int
10
obvLookback
w RSI
float
0.20
wRsi
Show all 27 settings
Setting
Type
Default
Variable
w MACD Hist
float
0.18
wMacd
w BB Position
float
0.14
wBb
w ATR
float
0.10
wAtr
w Stochastic
float
0.12
wStoch
w OBV Delta
float
0.12
wObv
w ADX
float
0.08
wAdx
w VWAP Dev
float
0.06
wVwap
Buy Score Threshold
float
1.5
buyThr
Sell Score Threshold
float
-1.5
sellThr
Signal Cooldown (bars)
int
3
cooldown
Process Noise Q
float
0.0001
kQ
Observation Noise R
float
0.01
kR
Show Summary Table
bool
true
showTable
Show Buy/Sell Labels
bool
true
showLabels
Plot Smooth Score Line
bool
true
showScore
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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