The "AC-P" version of the Derivative Oscillator is my personal customized version of Constance Brown's Derivative Oscillator (using Everget's implementation of it as the base), with the the following modifications and additions:
This indicator is a hybrid, with a combination of leading indicators and lagging trending indicators combined into one. Specifically, a few of the other indicators I use are lacking in the momentum and trend department, and this is one of the indicators I use to address that:
VWAP provides trend information on lower timeframes from a high timeframe interval (D)
Coral Trend provides additional confirmation to VWAP trend wise, and is adjustable
Waddah Attar Explosion provides a third level of confirmation for trending moves, taking into account shorter and longer timeframes (FastEMA and SlowEMA parameters).
Script base for the Derivative Oscillator is credited to Everget (https://www.tradingview.com/script/b1qim...) and LazyBear (https://www.tradingview.com/script/6wfwJ...).
Source attribution to Constance Brown for the Derivative Oscillator formula/indicator:
// Brown, Constance.
// Reference 1: “The Derivative Oscillator: a New Approach to an Old Problem,” Journal of Technical Analysis (Winter-Spring 1994) 45–61.
// Reference 2: Technical Analysis for the Trading Professional. New York, NY: McGraw-Hill, 1999.
Information on the Derivative Oscillator:
https://www.investopedia.com/terms/d/der...
- VWAP Indication - option to show whether the price input option is above or below the Daily VWAP (red triangles = price input is below vwap , green triangles = price input is above vwap )
- Bullish and Bearish phases from shayankm's Waddah Attar Explosion V2 (https://www.tradingview.com/script/d9Ijc...) is included as indication dots ( bullish = blue dots, bearish = yellow dots) below/above the Derivative Oscillator histogram
- Coral Trend from Lazybear (https://www.tradingview.com/script/qyUwc...) is included as indication dots (red/green dots below/above the Derivative Oscillator histogram
- Input source options for vwap , Waddah components ( MACD , Bollinger Upper/Lower)
- Centerline option for Coral trend, and Horizontal center option for the Derivative Oscillator with circle indication (optional - provided as option for flexibility in use with overlaying with other indicators)
This indicator is a hybrid, with a combination of leading indicators and lagging trending indicators combined into one. Specifically, a few of the other indicators I use are lacking in the momentum and trend department, and this is one of the indicators I use to address that:
VWAP provides trend information on lower timeframes from a high timeframe interval (D)
Coral Trend provides additional confirmation to VWAP trend wise, and is adjustable
Waddah Attar Explosion provides a third level of confirmation for trending moves, taking into account shorter and longer timeframes (FastEMA and SlowEMA parameters).
Script base for the Derivative Oscillator is credited to Everget (https://www.tradingview.com/script/b1qim...) and LazyBear (https://www.tradingview.com/script/6wfwJ...).
Source attribution to Constance Brown for the Derivative Oscillator formula/indicator:
// Brown, Constance.
// Reference 1: “The Derivative Oscillator: a New Approach to an Old Problem,” Journal of Technical Analysis (Winter-Spring 1994) 45–61.
// Reference 2: Technical Analysis for the Trading Professional. New York, NY: McGraw-Hill, 1999.
Information on the Derivative Oscillator:
https://www.investopedia.com/terms/d/der...