MACD-V is a volatility-normalized momentum indicator based on research by Alex Spiroglou. It calculates the standard MACD histogram and normalizes it by dividing by the Average True Range (ATR). Plotted in a separate pane as a colored histogram, it includes us
Indicator · Pine Script v5 · Own pane
Wave Trend Overbought Oversold
This indicator plots the WaveTrend Oscillator in a separate pane.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code155
Settings7inputs
LicenceNone stated
Last update1 year ago7 Oct 2025
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
Wave Trend Overbought Oversold computes an EMA of normalized price deviations from the median price divided by standard deviation, then applies an SMA to generate the oscillator line. Signals trigger on overbought conditions below -100 and oversold conditions above 100 for potential reversals, plus bullish trend when the oscillator crosses above zero and bearish trend when it crosses below zero. Settings allow selection of source price, channel length for EMA, average length for deviation normalization, signal length for smoothing, reversion threshold for alert triggers, and bar coloring modes including midline cross, extremities, and slope. The script supports custom source inputs and draws solely in a separate pane without repainting.
- WaveTrend Oscillator
- Overbought Oversold Signals
- Trend Direction Signals
- Bar Coloring Options
- Reversion Threshold
Details
Published by
wynnforthework on GitHub
Code credit
EliCobra, as written in the script's header
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum, Moving averages, Volatility & bands
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 |
|---|---|---|---|
| Source | string | hlc3 | src |
| Channel Length | int | 10 | clen |
| Average Length | int | 21 | alen |
| Signal Length | int | 4 | slen |
| revb | bool | true | revb |
| Reversion Threshold | int | 100 | revt |
| Bar Coloring | string | None | colb |
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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