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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