MACD-V is a volatility-normalized momentum indicator based on research by Alex Spiroglou. It calculates the standard MACD histogram and normalizes it by dividing by the Average True Range (ATR). Plotted in a separate pane as a colored histogram, it includes us
Indicator · Pine Script v6 · Own pane
Normalized Volatility Adjusted Relative Strength
Normalized Volatility Adjusted Relative Strength compares the chart symbol against a benchmark instrument such as SPY while adjusting for price volatility.
GitHub stars41on the repository
Pine versionv6current
Lines of code227
Settings7inputs
LicenceNone stated
Last update2 days ago26 Oct 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
The indicator calculates individual ATR-normalized price changes for both assets over a specified lookback period and subtracts benchmark performance. It then standardizes the resulting amplitude using a rolling root mean square normalization while preserving zero as parity. The script draws in a separate pane alongside fast and slow moving average smoothing lines.
- ATR-normalized relative strength comparison
- Rolling RMS amplitude normalization
- Configurable benchmark instrument comparison
- Fast and slow moving average options
Details
Published by
ChartsLector on GitHub
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Oscillators & momentum, Volatility & bands, Moving averages
Markets
Stocks
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 |
|---|---|---|---|
| Comparison Instrument | symbol | SPY | instrument_comparison |
| Look-back Length | int | 50 | lookback_length |
| SLOW MA Length | int | 20 | ma_length |
| FAST MA Length | int | 8 | fast_ma_length |
| Moving Average Type | string | sma | ma_type |
| ATR Length | int | 14 | atr_length |
| VARS Normalization Length | int | 100 | norm_length |
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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