This indicator calculates standardized z-scores of price data across four different lookback periods (6, 14, 26, and 100). Standardizing data subtracts the moving average from the price and divides by the standard deviation. It applies a Double Exponential Mov
Indicator · Pine Script v6 · Own pane
Relative Valuation Oscillator [QuantAlgo]
This indicator measures statistical price deviations using the mean and standard deviation of logarithmic price.
GitHub stars7on the repository
Pine versionv6current
Lines of code122
Settings10inputs
LicenceNone stated
Last update3 months ago24 Jul 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
Plotted in a separate pane, it identifies overvalued and undervalued market conditions relative to a calculated fair-value baseline. Standard deviation thresholds mark extreme zones, which can trigger visual extreme indicators and optional background color highlights. Users can adjust lookback lengths and multiplier thresholds manually or select pre-configured presets tailored for scalping, swing trading, or trend following.
- Logarithmic price mean and standard deviation valuation
- Configurable statistical deviation threshold multipliers
- Predefined presets for scalping, swing, and position trading
- Optional valuation extreme markers and background signals
- Customizable color themes for fair value and extreme zones
Details
Published by
eddiebelaval on GitHub
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Oscillators & momentum, Mean reversion, Volatility & bands
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 |
|---|---|---|---|
| Lookback Period | int | 34 | lookback_period |
| Deviation Threshold | float | 2.0 | threshold_mult |
| Preset Configuration | string | Default | presetConfig |
| Color Preset | string | Custom | colorPreset |
| Undervalued Color | color | #00ffaa | bullishInput |
| Overvalued Color | color | #ff0000 | bearishInput |
| Fair Value Color | color | #787b86 | neutralInput |
| Show Valuation Extremes | bool | true | enableOverlaySignals |
| Enable Background Signals | bool | false | enableBgSignals |
| Background Transparency | int | 70 | bgTransparency |
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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