The Momentum Setup is a multi-indicator visual tool designed for trend and momentum analysis directly on the price chart. It combines Relative Strength Index (RSI), Money Flow Index (MFI), Commodity Channel Index (CCI), Supertrend, and a 250-bar percentage cha
Indicator · Pine Script v4 · On the chart
Volume Weighted Deviations
This indicator plots volume-weighted deviation bands on the price chart.
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code63
Settings4inputs
LicenceNone stated
Last update8 months ago21 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
Volume Weighted Deviations computes a volume-weighted mean of the selected source over a lookback length, then a volume-weighted standard deviation or average deviation around that mean. Optional log-space mode transforms prices before the calculation and converts the bands back with an exponential. The type, length, and source settings control the statistic and window. It draws a basis line plus one, two, and three deviation bands above and below. It does not generate entries, exits, or alerts.
- Volume-weighted mean
- Standard or average deviation
- Optional log-space calculation
- One, two, and three deviation bands
- Price-chart overlay
Details
Published by
gorx1 on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Volatility & bands, Volume
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 |
|---|---|---|---|
| Log-space | bool | false | ls |
| Type | string | Average Deviation | type |
| length | int | 50 | length |
| source | source | close | source |
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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