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تم تحديثه Basis Divergence Oscillator
Basis Divergence Oscillator — TradingView publication description
## Overview
The Basis Divergence Oscillator turns the **futures-versus-spot basis** (the premium or discount of a future to its cash market) into a standardized, bounded oscillator, and then looks for **divergence between price and that basis**. The idea it tests is simple: when price makes a new extreme but the premium does not confirm it, the move is more likely leverage being unwound than fresh demand.
It is a single-pane oscillator. By default it pairs NSE NIFTY index futures with the NSE:NIFTY cash index, but every data input is user-configurable, so it runs on any future that has a cash/spot counterpart, in any market and on any timeframe.
## What it plots
- A z-scored **basis oscillator** (premium expanding = up, premium shrinking toward discount = down), with a glow line and σ-based overbought/oversold levels.
- **Extreme-zone bands** (default ±3σ) with a gradient fill that deepens toward the edge.
- **Divergence lines and labels** drawn on the oscillator — regular (reversal) and hidden (continuation), in two colors.
- **In-band reversal dots** where the oscillator turns inside an extreme zone.
- Optional **price-pane marks** at the confirmation bar (all generated by this one indicator).
- A **background-adaptive status dashboard** (oscillator value in σ, zone, last divergence, last reversal, live basis in points).
## Why these components are combined (mashup rationale)
This script deliberately combines a **cross-symbol calculation**, a **normalization stage**, a **divergence engine** and a **reversal read**, because each one answers a question the others cannot, and none of them is useful here on its own:
1. **Cross-symbol basis (two instruments → one series).** The basis is `chart price − cash/spot reference`. It isolates the small premium/discount component of price, which is driven by cost of carry, financing and leverage/positioning demand — information that the instrument's own price and its own volume do not contain. This is the whole reason a second symbol is pulled: remove either symbol and the basis is undefined. The two-symbol construction is intrinsic, not decorative.
2. **Standardization (rolling z-score).** The raw basis drifts slowly with time-to-expiry and carry, and its scale differs by instrument. The z-score detrends that drift and expresses the basis in standard-deviation units, so "overbought/oversold" and the extreme bands mean the same thing on NIFTY, on a commodity future, or on a crypto perpetual. Without this step the divergence thresholds would not transfer between symbols.
3. **Divergence engine.** A plotted basis line is already common; the original payload here is reading **price-versus-basis disagreement at confirmed pivots**. The engine pairs each new price pivot with the basis oscillator's value, then requires (a) a genuine new price extreme, (b) the basis failing to confirm it, (c) a minimum oscillator gap scaled to the oscillator's own stdev, (d) the two pivots within a maximum bar distance, and (e) optionally an overbought/oversold reading at the pivot. These gates exist so the combination produces meaningful signals rather than noise.
4. **Reversal read.** Independently, the engine flags oscillator turns that occur inside the extreme bands — a complementary "exhaustion" cue to the divergence cue.
In short, the components form one pipeline: **build an independent signal (basis) → make it comparable (z-score) → surface where price and that signal disagree (divergence) and where it exhausts (reversal).** They are read together; each is incomplete alone.
## How it works (method)
- `basis = price − request.security(reference, close)` on the chart's timeframe (no lookahead).
- `oscillator = z-score(basis, normalization window)`, optionally EMA-smoothed.
- Regular and hidden divergence are detected from confirmed `pivothigh`/`pivotlow` pivots and filtered by the gates above.
- Reversals are oscillator pivots that print within the ±extreme bands.
- Pivots confirm a few bars after they occur, so a printed signal does not repaint afterward. The confirmation lag equals the pivot length.
## How to use it
1. Put the indicator on a **future** (e.g. NIFTY index futures).
2. In **Data source**, set **Reference (cash/spot) symbol** to that instrument's spot (default NSE:NIFTY). A mismatched reference makes the basis meaningless.
3. Read divergence as **context, not a trigger**: a bearish divergence (price higher high, basis lower high) says the advance is not backed by premium; a bullish divergence says the opposite. Confirm with your own structure, levels and risk process.
4. Tune the **pivot length**, **max gap** and **min oscillator gap** to your timeframe; raise them for fewer, cleaner signals.
## Originality
This is an original implementation. It is not a basis line and not a generic divergence script: it is the specific combination of a cross-symbol basis, σ-standardization that makes the read portable across markets, a multi-gate divergence engine (magnitude + distance + extreme-zone), hidden-divergence and in-band reversal detection, and a background-adaptive dashboard. The code is written from scratch; helper functions use only their arguments and built-ins.
## Credits
The basis (futures premium/discount) is explained by the **cost-of-carry / theory-of-storage** framework in futures-pricing economics — foundational work by N. Kaldor (1939) and H. Working (1948–49). **Price/oscillator divergence** is a long-established, publicly documented technical-analysis technique. This script is not affiliated with, nor endorsed by, any third party.
## Notes / limitations
- The basis needs a clean reference feed and a matched contract; on illiquid or mismatched references, or when spot and future trade on different clocks, it is noisy.
- Divergence is descriptive context, never a guarantee of reversal.
- If the reference symbol is unavailable the oscillator holds flat and the dashboard shows "n/a".
## Disclaimer
Research and educational tool only. NOT financial advice and no guarantee of profitability or accuracy. Indicators describe past behaviour; they do not predict the future. Trading carries risk of loss. Test out-of-sample and make your own decisions. The author accepts no liability for any use of this script.
## Overview
The Basis Divergence Oscillator turns the **futures-versus-spot basis** (the premium or discount of a future to its cash market) into a standardized, bounded oscillator, and then looks for **divergence between price and that basis**. The idea it tests is simple: when price makes a new extreme but the premium does not confirm it, the move is more likely leverage being unwound than fresh demand.
It is a single-pane oscillator. By default it pairs NSE NIFTY index futures with the NSE:NIFTY cash index, but every data input is user-configurable, so it runs on any future that has a cash/spot counterpart, in any market and on any timeframe.
## What it plots
- A z-scored **basis oscillator** (premium expanding = up, premium shrinking toward discount = down), with a glow line and σ-based overbought/oversold levels.
- **Extreme-zone bands** (default ±3σ) with a gradient fill that deepens toward the edge.
- **Divergence lines and labels** drawn on the oscillator — regular (reversal) and hidden (continuation), in two colors.
- **In-band reversal dots** where the oscillator turns inside an extreme zone.
- Optional **price-pane marks** at the confirmation bar (all generated by this one indicator).
- A **background-adaptive status dashboard** (oscillator value in σ, zone, last divergence, last reversal, live basis in points).
## Why these components are combined (mashup rationale)
This script deliberately combines a **cross-symbol calculation**, a **normalization stage**, a **divergence engine** and a **reversal read**, because each one answers a question the others cannot, and none of them is useful here on its own:
1. **Cross-symbol basis (two instruments → one series).** The basis is `chart price − cash/spot reference`. It isolates the small premium/discount component of price, which is driven by cost of carry, financing and leverage/positioning demand — information that the instrument's own price and its own volume do not contain. This is the whole reason a second symbol is pulled: remove either symbol and the basis is undefined. The two-symbol construction is intrinsic, not decorative.
2. **Standardization (rolling z-score).** The raw basis drifts slowly with time-to-expiry and carry, and its scale differs by instrument. The z-score detrends that drift and expresses the basis in standard-deviation units, so "overbought/oversold" and the extreme bands mean the same thing on NIFTY, on a commodity future, or on a crypto perpetual. Without this step the divergence thresholds would not transfer between symbols.
3. **Divergence engine.** A plotted basis line is already common; the original payload here is reading **price-versus-basis disagreement at confirmed pivots**. The engine pairs each new price pivot with the basis oscillator's value, then requires (a) a genuine new price extreme, (b) the basis failing to confirm it, (c) a minimum oscillator gap scaled to the oscillator's own stdev, (d) the two pivots within a maximum bar distance, and (e) optionally an overbought/oversold reading at the pivot. These gates exist so the combination produces meaningful signals rather than noise.
4. **Reversal read.** Independently, the engine flags oscillator turns that occur inside the extreme bands — a complementary "exhaustion" cue to the divergence cue.
In short, the components form one pipeline: **build an independent signal (basis) → make it comparable (z-score) → surface where price and that signal disagree (divergence) and where it exhausts (reversal).** They are read together; each is incomplete alone.
## How it works (method)
- `basis = price − request.security(reference, close)` on the chart's timeframe (no lookahead).
- `oscillator = z-score(basis, normalization window)`, optionally EMA-smoothed.
- Regular and hidden divergence are detected from confirmed `pivothigh`/`pivotlow` pivots and filtered by the gates above.
- Reversals are oscillator pivots that print within the ±extreme bands.
- Pivots confirm a few bars after they occur, so a printed signal does not repaint afterward. The confirmation lag equals the pivot length.
## How to use it
1. Put the indicator on a **future** (e.g. NIFTY index futures).
2. In **Data source**, set **Reference (cash/spot) symbol** to that instrument's spot (default NSE:NIFTY). A mismatched reference makes the basis meaningless.
3. Read divergence as **context, not a trigger**: a bearish divergence (price higher high, basis lower high) says the advance is not backed by premium; a bullish divergence says the opposite. Confirm with your own structure, levels and risk process.
4. Tune the **pivot length**, **max gap** and **min oscillator gap** to your timeframe; raise them for fewer, cleaner signals.
## Originality
This is an original implementation. It is not a basis line and not a generic divergence script: it is the specific combination of a cross-symbol basis, σ-standardization that makes the read portable across markets, a multi-gate divergence engine (magnitude + distance + extreme-zone), hidden-divergence and in-band reversal detection, and a background-adaptive dashboard. The code is written from scratch; helper functions use only their arguments and built-ins.
## Credits
The basis (futures premium/discount) is explained by the **cost-of-carry / theory-of-storage** framework in futures-pricing economics — foundational work by N. Kaldor (1939) and H. Working (1948–49). **Price/oscillator divergence** is a long-established, publicly documented technical-analysis technique. This script is not affiliated with, nor endorsed by, any third party.
## Notes / limitations
- The basis needs a clean reference feed and a matched contract; on illiquid or mismatched references, or when spot and future trade on different clocks, it is noisy.
- Divergence is descriptive context, never a guarantee of reversal.
- If the reference symbol is unavailable the oscillator holds flat and the dashboard shows "n/a".
## Disclaimer
Research and educational tool only. NOT financial advice and no guarantee of profitability or accuracy. Indicators describe past behaviour; they do not predict the future. Trading carries risk of loss. Test out-of-sample and make your own decisions. The author accepts no liability for any use of this script.
ملاحظات الأخبار
Basis Divergence Oscillator — update notesForward calibration added. Every divergence and reversal class (Reg Bull/Bear, Hidden Bull/Bear, Rev +/−) now opens a forward sample resolved by a triple-barrier (profit / stop / horizon), uniqueness-weighted and recency-decayed, reported as an edge over a zone-matched base rate (for a bearish-from-overbought basis divergence: "how often does price fall after simply being overbought?") with a Wilson interval and a multiple-testing-corrected significance star — so you can see which basis divergences actually pay.
Identity strip showing name · symbol · timeframe on the chart (theme-adaptive).
Exports bus: EXP_Osc, EXP_OscZ, EXP_Zone, EXP_Bias, EXP_RegDiv, EXP_HidDiv, EXP_Reversal, EXP_BullEdge, EXP_BearEdge, plus EXP_Basis and EXP_DataLive.
Pro dashboard adds a per-class calibration table (n · Hit% ± Wilson · base · edge, * = significant); settings reorganized into 7 groups; all toggles default-on; reference symbol stays NSE:NIFTY; author credits (Kaldor, Working) kept in the header, out of the UI.
Educational only — not financial advice. Calibration is in-sample, forward-measured at fixed barriers; the basis needs a clean, matched reference feed. Validate out-of-sample.
نص برمجي مفتوح المصدر
بروح TradingView الحقيقية، قام مبتكر هذا النص البرمجي بجعله مفتوح المصدر، بحيث يمكن للمتداولين مراجعة وظائفه والتحقق منها. شكرا للمؤلف! بينما يمكنك استخدامه مجانًا، تذكر أن إعادة نشر الكود يخضع لقواعد الموقع الخاصة بنا.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
نص برمجي مفتوح المصدر
بروح TradingView الحقيقية، قام مبتكر هذا النص البرمجي بجعله مفتوح المصدر، بحيث يمكن للمتداولين مراجعة وظائفه والتحقق منها. شكرا للمؤلف! بينما يمكنك استخدامه مجانًا، تذكر أن إعادة نشر الكود يخضع لقواعد الموقع الخاصة بنا.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.