The Derivative Oscillator calculates a double-exponentially smoothed Relative Strength Index (RSI) and subtracts its Simple Moving Average (SMA) to form the main oscillator line. A secondary signal line is plotted using an SMA of the main oscillator values. Th
Indicator · Pine Script v4 · Own pane
VuManChu B Divergences
The VuManChu B Divergences indicator combines a WaveTrend oscillator with a Money Flow Index calculation to analyze market momentum and volume flow.
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code159
Settings20inputs
LicenceNone stated
Last update2 years ago12 May 2024
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
VuManChu B Divergences plots dual WaveTrend curves alongside overbought and oversold levels in a separate indicator pane, highlighting bullish and bearish crossovers with visual dots. Users can customize the WaveTrend moving average parameters, adjust threshold levels, modify the MFI period, and optionally calculate values on a higher timeframe.
- WaveTrend oscillator with customizable channel and average lengths
- Multi-level overbought and oversold threshold lines
- Integrated volume-weighted MFI area visualizer
- Optional higher timeframe resolution selection
Details
Published by
jerryinyang on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum, Moving averages
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 |
|---|---|---|---|
| Use Higher Timeframe | bool | false | vmcUseHTF |
| Higher Timeframe | timeframe | 240 | vmcRes |
| Use VMC Ob/Os? | bool | false | useVMCObOS |
| Show WaveTrend | bool | true | wtShow |
| Show Buy dots | bool | true | wtBuyShow |
| Show Sell dots | bool | true | wtSellShow |
| WT Channel Length | int | 9 | wtChannelLen |
| WT Average Length | int | 12 | wtAverageLen |
| WT MA Source | source | hlc3 | wtMASource |
| WT MA Length | int | 3 | wtMALen |
| WT Overbought Level 1 | int | 53 | obLevel |
| WT Overbought Level 2 | int | 60 | obLevel2 |
Show all 20 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| WT Overbought Level 3 | int | 100 | obLevel3 |
| WT Oversold Level 1 | int | -53 | osLevel |
| WT Oversold Level 2 | int | -60 | osLevel2 |
| WT Oversold Level 3 | int | -75 | osLevel3 |
| Show MFI | bool | true | rsiMFIShow |
| MFI Period | int | 60 | rsiMFIperiod |
| MFI Area multiplier | float | 150 | rsiMFIMultiplier |
| MFI Area Y Pos | float | 2.5 | rsiMFIPosY |
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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