This indicator plots the Relative Strength Index in a separate pane from smoothed up and down price changes. It draws the RSI line with horizontal bands at 70, 50 and 30, plus overbought and oversold gradient fills. Optional settings add a smoothing moving ave
Indicator · Pine Script v4 · Own pane
Price Percentage Divergence Indicator
This indicator computes a scaled Price Percentage Oscillator divergence between fast and slow lookback periods applied to a minimax-transformed stepline of price data.
Repaints
GitHub stars114on the repository
Pine versionv4older, still runs
Lines of code39
Settings5inputs
LicenceNone stated
Last update1 year ago7 Nov 2024
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
Price Percentage Divergence Indicator generates a weighted divergence line using WMA and EMA smoothing, then plots a scaled version of RSI on the separate pane. The main settings control the fast and slow periods, MA lookback for weighting, and scaler lookback for normalization. Divergence is signaled when the weighted line crosses the reweighted EMA, with color changes indicating bullish or bearish momentum shifts. The indicator draws exclusively on a separate pane and repaints on the live bar.
- Price Percentage Divergence
- PPO Oscillator
- Stepline Minimax
- Weighted EMA Divergence
- Scaled RSI
Details
Published by
capissimo on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum, Divergence, Moving averages, Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Price Data | source | close | src |
| Fast Lookback | int | 13 | fast |
| Slow Lookback | int | 240 | slow |
| MA Lookback | int | 34 | pma |
| Scaler Lookback | int | 1440 | mmx |
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 indicator plots the relative strength index in a separate pane. It calculates RSI from the selected source and length with Wilder-style RMA smoothing, then draws the line against horizontal bands at 70, 50 and 30, with gradient fills in the overbought and
This indicator calculates the Relative Strength Index from a chosen price source and length and plots it in a separate pane. It draws horizontal bands at 70, 50, and 30 and fills the area between the outer bands. An optional moving average can smooth the RSI u
This separate-pane indicator plots a MACD line, a signal line, and a histogram whose colors show whether the histogram is rising or falling above or below zero. The oscillator and signal can each use an SMA or an EMA, and an optional marker highlights MACD and
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
PPO ATR Bands plots a percentage price oscillator in a separate pane. It compares a Hull average of typical price with a volume-weighted exponential average of Parabolic SAR, then scales three true-range bands around the slow average into matching oscillator l
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers