OPEN-SOURCE SCRIPT
AO Limit Signal
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AO Limit Signal supply Pending Price and Limit Order with detail as bellow
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A.Buy Limit
1.Get Pending Price
+ Oscillator go into oversold zone
+ Pending price is lowest Low Price in (n) periods
+ (n) is fast periods of AO
2.Active Buy Limit
+ Oscillator go out oversold zone
+ Place Buy Limit at pending price
===
B.Sell Limit
1.Get Pending Price
+ Oscillator go into overbought zone
+ Pending price is highest High Price in (n) periods
+ (n) is fast periods of AO
2.Active Sell Limit
+ Oscillator go out overbought zone
+ Place Sell Limit at pending price
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C.Oscillator
1.AO default parameter
+ Source: HL2
+ Fast Period: 25 H1
+ Slow Period: 75 H1
2.Overbought - Oversold Zone
+ AO's %b period: 80
+ AO's %b multiplier: 2.5
+ Overbought zone: AO's %b above 0.8
+ Oversold zone: AO's %b below 0.2
3.Color
+ Yellow dot: AO go into Overbought - Oversold Zone
+ Red dot: AO go out Overbought Zone
+ Green dot: AO go out Oversold Zone
===
AO Limit Signal supply Pending Price and Limit Order with detail as bellow
===
A.Buy Limit
1.Get Pending Price
+ Oscillator go into oversold zone
+ Pending price is lowest Low Price in (n) periods
+ (n) is fast periods of AO
2.Active Buy Limit
+ Oscillator go out oversold zone
+ Place Buy Limit at pending price
===
B.Sell Limit
1.Get Pending Price
+ Oscillator go into overbought zone
+ Pending price is highest High Price in (n) periods
+ (n) is fast periods of AO
2.Active Sell Limit
+ Oscillator go out overbought zone
+ Place Sell Limit at pending price
===
C.Oscillator
1.AO default parameter
+ Source: HL2
+ Fast Period: 25 H1
+ Slow Period: 75 H1
2.Overbought - Oversold Zone
+ AO's %b period: 80
+ AO's %b multiplier: 2.5
+ Overbought zone: AO's %b above 0.8
+ Oversold zone: AO's %b below 0.2
3.Color
+ Yellow dot: AO go into Overbought - Oversold Zone
+ Red dot: AO go out Overbought Zone
+ Green dot: AO go out Oversold Zone
===
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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