This indicator marks RSI divergences only when price trades beyond daily VWAP standard-deviation bands. It compares recent RSI extremes with price highs and lows over a lookback window, and it treats a divergence as valid only while RSI stays beyond overbought
Indicator · Pine Script v6 · On the chart
VCP Setup
A price-chart overlay that scans for volatility contraction setups, mainly on daily charts.
GitHub stars1on the repository
Pine versionv6current
Lines of code314
Settings37inputs
LicenceNone stated
Last update2 days ago27 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
VCP Setup counts bullish divergences between price and cumulative volume delta built from intrabar data, within a lookback window, and checks that price sits near the range high and above the range low and that Bollinger bandwidth is below a threshold. Matching candles can be highlighted, a tight three-bar zone can be marked, and 10, 20, 50 and 200 EMAs, an anchored VWAP and a relative strength score against an index are optional. It marks setups only.
- Intrabar cumulative volume delta divergence count
- Price range and Bollinger bandwidth conditions
- Tight zone highlight and EMA set
- Optional anchored VWAP and relative strength
Details
Published by
ankurksoni on GitHub
Type
Indicator, Pine Script v6
Draws
On the price chart
Category
Volume, Volatility & bands, Divergence
Markets
Stocks
Timeframes
H4 and above
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 |
|---|---|---|---|
| Intrabar Precision | string | LTF2 | i_ltfMode |
| Lookback Bars (~2.5 months on daily) | int | 75 | i_lookback |
| Min CVD Bullish Divergences | int | 3 | i_minDivs |
| Price Range % from High / Low | float | 25.0 | i_pctThresh |
| Bollinger Bandwidth Threshold (<) | float | 15.0 | i_bbwThresh |
| Dark Mode | bool | true | i_darkMode |
| Highlight setup candles | bool | true | i_colorSetup |
| Setup candle color | color | color.new(#888888, 0) | i_setupColor |
| CVD Div dot color | color | color.rgb(red = 173, green = 238, blue = 179, transp = 50) | i_divDot |
| CVD dot gap below candle (%) | float | 8.0 | i_arrowGap |
| RS score/dot gap below candle (%) | float | 9.0 | i_rsGap |
| Show RS score only when ≥ | int | 80 | i_rsThresh |
Show all 37 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Highlight tight 3-bar zone | bool | true | i_showTight |
| Tight zone display style | string | Line above chart | i_tightStyle |
| Tight zone lookback bars | int | 10 | i_tightLookback |
| Tight zone tolerance % from median | float | 1.5 | i_tightPct |
| Tight zone color | color | color.new(color.yellow, 50) | i_tightColor |
| Show Anchored VWAP | bool | false | i_showAvwap |
| Anchor Date | time | timestamp("30 Mar 2026 00:00 +0000") | i_anchorDate |
| AVWAP Color | color | color.new(color.orange, 50) | i_avwapColor |
| Show 10 EMA | bool | true | i_show10 |
| i_ema10Clr | color | color.new(color.white, 5) | i_ema10Clr |
| Show 20 EMA | bool | true | i_show20 |
| i_ema20Clr | color | color.new(color.yellow, 5) | i_ema20Clr |
| Show 50 EMA | bool | true | i_show50 |
| i_ema50Clr | color | color.new(color.green, 5) | i_ema50Clr |
| Show 200 EMA | bool | true | i_show200 |
| i_ema200Clr | color | color.new(color.red, 5) | i_ema200Clr |
| Show RS line | bool | false | i_showRS |
| vs | symbol | NSE:NIFTYSMLCAP250 | i_idxSym |
| RS Period | int | 20 | i_rsPeriod |
| Show HLC Bar Chart | bool | true | i_showHlc |
| Bullish Color | color | #0097A7 | i_hlcBullClr |
| Bearish Color | color | #EC407A | i_hlcBearClr |
| Show pressure line at bottom of chart | bool | false | i_showPressure |
| Pressure lookback bars | int | 20 | i_pressLookback |
| Body/range weighted | bool | false | i_pressWeighted |
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 builds a momentum score from the rate of change of close, using a lookback that expands or contracts with ATR relative to its standard deviation. It divides that rate of change by price standard deviation, scales the result, and weights it by vo
Delta Volume Channels calculates volume-weighted delta channels and reference moving averages using lower timeframe intrabar volume data. It plots directly on the main price chart, displaying dynamic channel fills, reference lines, delta volume-weighted lines,
QPulse is a multi-factor indicator that draws in a separate pane to evaluate market momentum, volume flow, and volatility dynamics. It calculates volume delta, a cumulative delta proxy, advanced adaptive ATR, and a hybrid volume-weighted RSI with overbought an
This indicator combines five technical metrics normalized between 0 and 100 in a separate pane: RSI (with optional divergence detection), Stochastic, Relative Volatility Index (RVI), Average Directional Index (ADX), and Money Flow Index (MFI). Users can select
This indicator marks internal divergence when a same-direction signal leg moves farther than the peak, or the mean plus a sigma multiple, of earlier legs. It runs trend, momentum, volatility and volume calculations as four separate methods in a separate pane.
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers