Derivative Oscillator Cu [ID: AC-P]

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:

  • 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 ( is included as indication dots ( bullish = blue dots, bearish = yellow dots) below/above the Derivative Oscillator histogram

  • Coral Trend from Lazybear ( 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 ( and LazyBear (

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:
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Bình luận

great job than you
+1 Phản hồi
This is an excellent indicator! I use VWAP and Waddah. Putting these together and adding the other components really give a great view of the momentum in the market. I was thinking that adding a way to indicate slope of higher TF VWAP may prove to be an extra way of determining dominant trend direction. What do you think about that? Anyways, great script. Keep sharing your excellent work with the community my friend. Cheers!
+1 Phản hồi
auroagwei blakester1111
@blakester1111, adding slope detection for the D vwap/HTF vwap would probably be a solid addition - great suggestion, will have to look into it. If you've got any suggestions script or implementation wise let me know
Phản hồi
komogisa blakester1111
@blakester1111, How do I interpret the graph?
How do I know when to short, long and to take profit?
+1 Phản hồi
How do I interpret the graph?
How do I know when to short, long and to take profit?
Phản hồi
Great Job !
Works very well on the lower time frame!
Phản hồi
@Raja11, as with all indicators, you're supposed to adjust accordingly to your timeframe and asset - while the defaults may work on LTF for some asset classes and pairs, it's not exempt from the adjustment/tuning/backtesting process for all indicators in a trading system
Phản hồi
komogisa Raja11
@Raja11, Hi Raja do you know how to interpret the Derivative Oscillator?
Phản hồi
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