OPEN-SOURCE SCRIPT
Updated Oscillator Team
An Indicator that Aggregates multiple oscillator indicators. Its purpose is to detect reversal points when the market is in a high/low value and you are expecting a reversal.
Release Notes
The Indicator purpose is to detect potential Reversals when you are expecting one. The indicator aggregates multiple Oscillators to achieve this functionality.The higher the Oscillator value, the more probability for it to reverse.
You can adjust the settings of each individual indicator to the needed/intended signal.
Newly Added:
* You can enable/disable any indicator.
* You can choose a threshold where the indicator will be either Up/Neutral/Down.
Below are the indicators used/aggregated:
1- William's Percentage Range: Signal when lines cross either positive/negative
2- RSI moving average: Signals positive when RSI above MA, negative when price below MA
3- RSI MA rate of change: Signals positive/negative when ROC positive/negative
4- Relative Vegor Index: Signals when lines cross either positive/negative
5- MACD: Signals when lines cross either positive/negative
6- SMI Ergodic Indicator: Signals when lines cross either positive/negative
7- STC Indicator: Signals positive/negative when STC positive/negative
8- Stochastic: Signals when lines cross either positive/negative
Release Notes
Adding Overbought/Oversold indicatorOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.