This statistical analysis tool mines historical relationships between RSI values and candle volatility. It calculates a 14-period RSI from the previous bar and normalizes absolute price change using a 14-period Average True Range (ATR). Based on the normalized
Indicator · Pine Script v6 · Own pane
Risk-Adjusted Momentum Oscillator
Risk-Adjusted Momentum Oscillator plots a normalized momentum oscillator in a separate pane, dynamically scaling momentum by ongoing drawdown risk.
GitHub stars2on the repository
Pine versionv6current
Lines of code668
Settings26inputs
LicenceNone stated
Last update8 months ago25 Feb 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
Risk-Adjusted Momentum Oscillator calculates momentum via Rate of Change, Price Momentum, or Log Returns, applying Z-score normalization and adaptive smoothing. The script generates entry and exit signals, an optional MACD-style histogram, confidence bands, and predictive regression lines for momentum exhaustion. Users can configure risk lookback periods, threshold sensitivity, leading indicator modes, and an on-screen risk analytics table. As an indicator, it does not execute trades directly.
- Drawdown-based risk-adjusted momentum scaling
- Selectable algorithms including Rate of Change and Log Returns
- Z-score normalization and adaptive smoothing
- Linear regression prediction and exhaustion detection
- On-screen risk analytics dashboard table
Details
Published by
regalouisei on GitHub
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Oscillators & momentum, Volatility & bands, Screeners & dashboards
Markets
Stocks, Crypto, Forex
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 |
|---|---|---|---|
| Momentum Calculation Period | int | 20 | momentum_length |
| Momentum Algorithm | string | Rate of Change | momentum_type |
| Risk Assessment Period | int | 252 | dd_lookback |
| Risk Smoothing Factor | int | 5 | dd_smoothing |
| Risk Scaling Factor | float | 1.0 | risk_scaling |
| Signal Line Period | int | 14 | signal_length |
| Z-Score Normalization Period | int | 40 | normalization_period |
| Enable Leading Mode | bool | true | enable_leading_mode |
| Acceleration Period | int | 5 | acceleration_period |
| Regression Length | int | 10 | prediction_length |
| Prediction Forward Bars | int | 3 | prediction_offset |
| Exhaustion Threshold | float | 2.0 | exhaustion_threshold |
Show all 26 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Adaptive Smoothing | bool | true | adaptive_smoothing_enabled |
| Use Adaptive Thresholds | bool | true | use_dynamic_thresholds |
| Threshold Sensitivity | float | 0.75 | threshold_multiplier |
| Static Upper Threshold | float | 0.5 | static_upper |
| Static Lower Threshold | float | -0.5 | static_lower |
| Display Entry/Exit Signals | bool | true | show_signals |
| Display MACD-Style Histogram | bool | true | show_histogram |
| Display Confidence Bands | bool | true | show_confidence_bands |
| Display Risk Analytics Table | bool | true | show_risk_table |
| Dark Mode Optimization | bool | true | use_dark_mode |
| Custom Color Scheme | bool | false | enable_custom_colors |
| Bullish | color | #4CAF50 | custom_bullish |
| Bearish | color | #FF5252 | custom_bearish |
| Neutral | color | #2196F3 | custom_neutral |
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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