Dawud Range Rover Negative

4 days ago

This indicator is designed to provide a dynamic, non-repainting oscillator that adapts to price action and reflects momentum shifts with enhanced accuracy. It applies adaptive smoothing techniques to reduce noise and normalize price movements within a custom range. Unlike conventional oscillators, this version introduces an automatic negative adjustment when price remains weak for consecutive bars, ensuring a more responsive and realistic representation of market conditions.

The script utilizes a rolling min/max normalization method, ensuring values stay within an adaptive range based on historical price action. This feature helps traders identify extended overbought and oversold conditions without static thresholds, making it more versatile across different assets and timeframes. Additionally, all calculations are stored using non-repainting logic, preserving historical accuracy and avoiding misleading recalculations.

This indicator is designed for traders looking for momentum tracking, market cycle identification, and dynamic trend assessment in a visually intuitive format. It serves as a powerful tool when combined with other forms of technical analysis, helping to refine entry and exit points based on market conditions.