This strategy combines Larry Williams' Vix Fix synthetic volatility indicator with Bollinger Bands. It calculates standard and inverted Williams Vix Fix metrics, displaying them as histogram columns with standard deviation bands in a separate pane. Long entrie
Strategy · Pine Script v6 · Own pane
TeleNexus Pair Correlation Divergence V6
This strategy calculates the Z-score divergence of return spreads between two forex assets such as EURUSD and GBPUSD.
GitHub stars1on the repository
Pine versionv6current
Lines of code126
Settings17inputs
LicenceNone stated
Last update2 months ago15 Aug 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 strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
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
TeleNexus Pair Correlation Divergence V6 enters long positions when the Z-score falls below the entry threshold with confirmed uptrend from EMA, RSI and MACD filters plus sufficient correlation. It enters short positions symmetrically when the Z-score exceeds the threshold with downtrend confirmation. It exits positions when the Z-score reverts within the exit threshold. The strategy draws signals and indicators in a separate pane using request.security for secondary asset data.
- Z-Score Divergence
- Pair Correlation Filter
- ATR Risk Management
- Trend EMA Confirmation
- RSI MACD Signals
Details
Published by
raybird on GitHub
Type
Strategy, Pine Script v6
Draws
Separate pane below the chart
Category
Divergence, Mean reversion, Oscillators & momentum, Volatility & bands
Markets
Forex
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Primary Asset | symbol | OANDA:EURUSD | sym1 |
| Secondary Asset | symbol | OANDA:GBPUSD | sym2 |
| Correlation Length | int | 50 | corrLen |
| Z-Score Length | int | 30 | zLen |
| Z Entry Threshold | float | 1.0 | entryZ |
| Z Exit Threshold | float | 0.1 | exitZ |
| ATR Length | int | 14 | atrLen |
| Risk:Reward Ratio | float | 2.0 | rrRatio |
| Fast EMA | int | 20 | fastEMA |
| Slow EMA | int | 50 | slowEMA |
| RSI Length | int | 14 | rsiLen |
| MACD Fast | int | 12 | macdFast |
Show all 17 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| MACD Slow | int | 26 | macdSlow |
| MACD Signal | int | 9 | macdSig |
| Enable Correlation Filter | bool | true | useCorr |
| Min Correlation | float | 0.5 | minCorr |
| Show Plots | bool | true | showPlots |
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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