This indicator generates trade entry signals and target levels optimized for 1-hour timeframes, designed for external signal extraction. It calculates 7-period and 16-period EMAs alongside 10-period RSI and ATR filters. Long signals occur when the fast EMA cro
Indicator · Pine Script v5 · Own pane
Normalized Advanced Decomposition Oscillator
Normalized Advanced Decomposition Oscillator decomposes price action into three distinct components: a trend component based on a simple moving average, a noise component based on standard deviation, and a transient component derived from significant rate-of-change spikes.
GitHub stars3on the repository
Pine versionv5runs as is
Lines of code41
Settings2inputs
LicenceGPL-3.0
Last update2 years ago22 May 2024
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
41 lines of Pine Script v5 from normalized-advanced-decomposition-oscillator.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © jawauntb
//@version=5
indicator("Normalized Advanced Decomposition Oscillator", shorttitle="NADO", overlay=false)
// Parameters
length = input(14, title="Length")
mult = input(1.0, title="Multiplier")
// Sinusoidal/Trend Component
trend = ta.sma(close, length)
// Noise Component: Measure volatility as a proxy for noise
volatility = ta.stdev(close, length) * mult
// Transient Component: We'll use Rate of Change but only focus on significant changes
roc = ta.roc(close, length)
transient = math.abs(roc) > volatility ? roc : na
// Percentile Rank Calculation Function
pctrank(series, period) =>
lessThanCount = 0.0
for i = 0 to period - 1
if na(series[i]) or na(series)
lessThanCount := na
break
else
lessThanCount := series[i] < series ? lessThanCount + 1 : lessThanCount
na(lessThanCount) ? na : lessThanCount / period * 100
// Normalized Components
normalizedTrend = pctrank(trend, length)
normalizedVolatility = pctrank(volatility, length)
normalizedTransient = pctrank(transient, length)
// Plotting
plot(normalizedTrend, color=color.blue, title="Normalized Trend")
plot(normalizedVolatility, color=color.red, title="Normalized Volatility (Noise)")
plot(normalizedTransient, color=color.green, title="Normalized Transient")
hline(50, "Center", color=color.gray, linestyle=hline.style_dashed)
Overview
Each component is normalized into a percentile rank ranging between 0 and 100. The indicator plots all three normalized metrics alongside a dashed center line at 50 in a separate pane. Users can adjust the lookback length and volatility multiplier. It provides analytical readings without built-in trade signals or alert conditions.
- Decomposition into trend, noise, and transient components
- Rolling percentile rank normalization
- Volatility-filtered rate of change detection
- Separate pane oscillator with 50 midline
Details
Published by
jawauntb on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum, Volatility & bands, Trend
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Length | int | 14 | length |
| Multiplier | float | 1.0 | mult |
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
MultiIndicator combines multiple technical indicators into a single separate pane to save chart space. It calculates and displays market regime detection based on ordinary least squares regression, a Holt exponential smoothing crossover, normalized RSI, ADX, a
This indicator plots an oscillator in a separate pane. It builds several SuperTrend series across a user-defined factor range and step, using ATR as the band width. On each bar it measures the distance between the close and each SuperTrend output, then groups
The Supertrended RSI [AlgoAlpha] indicator plots the Relative Strength Index combined with a Supertrend overlay in a separate indicator pane. It first computes standard RSI, with an optional Hull Moving Average smoothing step, and computes a secondary moving a
This indicator plots a smoothed stochastic oscillator in a separate pane, with K and D lines, a midsection background, and adjustable overbought and oversold levels. Optional highlights mark overbought or oversold breakouts and K/D crossovers, and ribbon filli
The Adaptive Cycle Detector estimates the dominant market cycle from WaveTrend oscillator zero-crossing frequency and applies smoothing to recommend adaptive indicator lengths. Fast markets with frequent crossings receive shorter lengths while slow swing marke
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers