OPEN-SOURCE SCRIPT
TWR Composite
Smart move publishing it open-source — let people build their own signals on top of a clean base.
Here's the description, then tags, then a few publishing tips.
Description
TWR Composite — Weighted Momentum Oscillator with Gradient Midline Fill
TWR Composite blends six classical momentum measures into a single normalized oscillator: RSI, CCI, OBV-momentum, Stochastic %K, MFI, and the Awesome Oscillator. Each component is individually weighted (all adjustable) and normalized to a common 0–1 range, then lightly smoothed. The result is one line that summarizes momentum across several independent lenses instead of forcing you to read multiple panes.
Component handling
Each input is normalized so the composite stays bounded between 0 and 1, regardless of asset or timeframe:
RSI, Stochastic %K, and MFI are divided by 100.
CCI (which is unbounded) is soft-clipped via a tanh function. The clip scale is configurable.
OBV is cumulative by nature, so the indicator normalizes its N-bar change over a rolling 100-bar range rather than the raw cumulative value.
The Awesome Oscillator is also normalized against its rolling 100-bar range.
The six normalized components are combined using your weights, then smoothed with a short SMA to filter single-bar noise. Set any weight to zero to remove that component entirely.
Visualization
The composite plots with a gradient fill anchored between the line and the 0.5 midline — opaque at the line, fading toward the midline. The hue flips automatically: green when the composite is above 0.5, red when below. Configurable overbought and oversold levels (default 0.8 / 0.2) are drawn as dotted reference lines, with optional background shading when the composite enters those zones.
Optional layers (default off)
Fib levels on price: an ATR-trailing stop tracks the prevailing swing, and three retracement levels (61.8 / 78.6 / 88.6 by default) are projected from the swing extreme back toward the trail. Useful as confluence reference points with the composite.
Regime line: an SMA of the composite itself, drawn alongside a configurable reference line, to give you a slower read on overall momentum bias.
What this is and isn't
This is a visualization tool. It does not generate buy/sell signals, does not have alerts, and does not claim any edge. It's a clean way to see multi-component momentum on one line, with the visual contrast strong enough to read at a glance. Use it as a building block — pair it with your own entries, divergence detection, signal logic, or whatever fits your system.
The code is open. Fork it, modify it, build signals on top of it.
works very well with the Precision Pulse 8 indicator
Disclaimer:
This indicator is provided for educational and informational purposes only. It is a visualization of mathematical relationships between common momentum components — nothing more. It does not constitute financial, investment, or trading advice, and no part of it should be interpreted as a recommendation to buy, sell, or hold any asset.Past behavior of any indicator is not indicative of future results. Trading and investing carry substantial risk, including the risk of total loss. You alone are responsible for your decisions, your risk management, and any outcomes. Always do your own research and consult a licensed professional before acting on any market information.By using this script you acknowledge that the author makes no representation or warranty regarding its accuracy, completeness, or fitness for any particular purpose, and accepts no liability for any losses or damages arising from its use.
good luck trading.
Here's the description, then tags, then a few publishing tips.
Description
TWR Composite — Weighted Momentum Oscillator with Gradient Midline Fill
TWR Composite blends six classical momentum measures into a single normalized oscillator: RSI, CCI, OBV-momentum, Stochastic %K, MFI, and the Awesome Oscillator. Each component is individually weighted (all adjustable) and normalized to a common 0–1 range, then lightly smoothed. The result is one line that summarizes momentum across several independent lenses instead of forcing you to read multiple panes.
Component handling
Each input is normalized so the composite stays bounded between 0 and 1, regardless of asset or timeframe:
RSI, Stochastic %K, and MFI are divided by 100.
CCI (which is unbounded) is soft-clipped via a tanh function. The clip scale is configurable.
OBV is cumulative by nature, so the indicator normalizes its N-bar change over a rolling 100-bar range rather than the raw cumulative value.
The Awesome Oscillator is also normalized against its rolling 100-bar range.
The six normalized components are combined using your weights, then smoothed with a short SMA to filter single-bar noise. Set any weight to zero to remove that component entirely.
Visualization
The composite plots with a gradient fill anchored between the line and the 0.5 midline — opaque at the line, fading toward the midline. The hue flips automatically: green when the composite is above 0.5, red when below. Configurable overbought and oversold levels (default 0.8 / 0.2) are drawn as dotted reference lines, with optional background shading when the composite enters those zones.
Optional layers (default off)
Fib levels on price: an ATR-trailing stop tracks the prevailing swing, and three retracement levels (61.8 / 78.6 / 88.6 by default) are projected from the swing extreme back toward the trail. Useful as confluence reference points with the composite.
Regime line: an SMA of the composite itself, drawn alongside a configurable reference line, to give you a slower read on overall momentum bias.
What this is and isn't
This is a visualization tool. It does not generate buy/sell signals, does not have alerts, and does not claim any edge. It's a clean way to see multi-component momentum on one line, with the visual contrast strong enough to read at a glance. Use it as a building block — pair it with your own entries, divergence detection, signal logic, or whatever fits your system.
The code is open. Fork it, modify it, build signals on top of it.
works very well with the Precision Pulse 8 indicator
Disclaimer:
This indicator is provided for educational and informational purposes only. It is a visualization of mathematical relationships between common momentum components — nothing more. It does not constitute financial, investment, or trading advice, and no part of it should be interpreted as a recommendation to buy, sell, or hold any asset.Past behavior of any indicator is not indicative of future results. Trading and investing carry substantial risk, including the risk of total loss. You alone are responsible for your decisions, your risk management, and any outcomes. Always do your own research and consult a licensed professional before acting on any market information.By using this script you acknowledge that the author makes no representation or warranty regarding its accuracy, completeness, or fitness for any particular purpose, and accepts no liability for any losses or damages arising from its use.
good luck trading.
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
D' Rebellionaire
Precision Pulse Team | Belgium HQ
Markets bend. I don’t.
Precision Pulse Team | Belgium HQ
Markets bend. I don’t.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
D' Rebellionaire
Precision Pulse Team | Belgium HQ
Markets bend. I don’t.
Precision Pulse Team | Belgium HQ
Markets bend. I don’t.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.