%Difference Price vs 20DMA

Sagal · 2025-09-10T13:27:34+00:00

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

Viewing 4 posts - 1 through 4 (of 4 total)

Author

Posts
09/10/2025 at 2:27 PM #250632 quote

Sagal
Participant

New

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

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

Sagal
Participant

New

I wanted to say 200DMA

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

Master
Hi,

Try this one (the messages are realtime)…
```
//@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 (%)"
```
robertogozzi and Iván González thanked this post

Schermafbeelding-2025-09-10-om-16.05.51.png
09/10/2025 at 5:06 PM #250648 quote

Sagal
Participant

New

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

JS thanked this post
Author

Posts