%Difference Price vs 20DMA

• 09/10/2025 at 2:27 PM #250632
  Sagal

  Hello, it was something that somehow I was watching manually. However, on X Ole Hansen from Saxobank mentioned and displayed an indicator that mesure the % difference between the price and the 20DMA. For Gold, there has been some correction in the past when the difference is above 20%. As I’m not at all a programer I asked IA (DeepSeek) to produce a code. I think currently v. 13 beta is not working well for this kind of things, but anyway can one of you tell me if this code should do the work?

  //@version=13
  // Indicator: Price Deviation from 200 DMA
  // Based on concept described by Ole S. Hansen (Saxo Bank)

  // Input parameters
  DeviationThreshold = 20.0 // 20% threshold
  MALength = 200 // 200-period moving average

  // Calculate 200-period Simple Moving Average
  MA200 = average[200](close)

  // Calculate percentage deviation from the MA
  Deviation = (close / MA200 – 1) * 100

  // Plot the deviation line
  RETURN Deviation AS “Deviation (%)”

  // Draw horizontal lines for the thresholds
  DRAWHLINE(DeviationThreshold) AS “Overbought Line”
  DRAWHLINE(-DeviationThreshold) AS “Oversold Line”
  DRAWHLINE(0) AS “Zero Line”

  // Color the background based on the deviation
  IF Deviation >= DeviationThreshold THEN
  DRAWONCE(1, color(200,0,0,80)) AS “Overbought Warning”
  ELSIF Deviation <= -DeviationThreshold THEN
  DRAWONCE(1, color(0,150,0,80)) AS “Oversold Warning”
  ENDIF

  

  Sagal

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  09/10/2025 at 2:35 PM #250635
  Sagal

  I wanted to say 200DMA

  

  Sagal

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  09/10/2025 at 3:08 PM #250636
  JS

  Hi,

  Try this one (the messages are realtime)…

  Gold Deviation Pct

  //@version=13 // Indicator: Price Deviation from 200 DMA // Based on concept described by Ole S. Hansen (Saxo Bank) DefParam DrawOnLastBarOnly=True // Input parameters DeviationThreshold = 20.0 // 20% threshold MALength = 200 // 200-period moving average // Calculate 200-period Simple Moving Average MA200 = average[200](close) // Calculate percentage deviation from the MA Deviation = (close / MA200 - 1) * 100 // Draw horizontal lines for the thresholds DRAWHLINE(DeviationThreshold) Coloured("Green") DRAWHLINE(-DeviationThreshold)Coloured("Red") DRAWHLINE(0) // Color the background based on the deviation IF Deviation >= DeviationThreshold THEN DrawText("OverBought Warning",BarIndex,Deviation) ELSIF Deviation <= -DeviationThreshold THEN DrawText("OverSold Warning",BarIndex,Deviation) ENDIF // Plot the deviation line RETURN Deviation AS "Deviation (%)"

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  //@version=13 // Indicator: Price Deviation from 200 DMA // Based on concept described by Ole S. Hansen (Saxo Bank)   DefParam DrawOnLastBarOnly=True   // Input parameters DeviationThreshold = 20.0 // 20% threshold MALength = 200 // 200-period moving average   // Calculate 200-period Simple Moving Average MA200 = average[200](close)   // Calculate percentage deviation from the MA Deviation = (close / MA200 - 1) * 100   // Draw horizontal lines for the thresholds DRAWHLINE(DeviationThreshold) Coloured("Green") DRAWHLINE(-DeviationThreshold)Coloured("Red") DRAWHLINE(0)   // Color the background based on the deviation IF Deviation >= DeviationThreshold THEN DrawText("OverBought Warning",BarIndex,Deviation) ELSIF Deviation <= -DeviationThreshold THEN DrawText("OverSold Warning",BarIndex,Deviation) ENDIF   // Plot the deviation line RETURN Deviation AS "Deviation (%)"

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  Iván, robertogozzi

  

  JS

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  09/10/2025 at 5:06 PM #250648
  Sagal

  Thanks a lot! it is working properly, the IA I use is unable to properly convert pinestreet code into PRT code

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  JS

  

  Sagal

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