OPEN-SOURCE SCRIPT
Pump / Dump — RSI OB/OS Only
📌 Description
This script “Pump / Dump — RSI OB/OS Only” is a very simple indicator that generates Pump and Dump signals based purely on the RSI overbought/oversold zones.
Pump (Green Up Signal) → When RSI crosses into or stays in the Overbought zone (≥70 by default).
Dump (Red Down Signal) → When RSI crosses into or stays in the Oversold zone (≤30 by default).
⚙️ Features
Adjustable RSI length (default 14).
Customizable Overbought / Oversold levels (default 70/30).
Option to choose between:
Cross Only Mode → Signal appears once when RSI enters the zone.
Zone Mode → Signals appear every bar while RSI stays inside the zone.
Clear visual labels on the chart (green for Pump, red for Dump).
Built-in alert conditions for Pump/Dump events (can be used with TradingView alerts).
🎯 Use Case
Quick visual confirmation of potential momentum shifts.
Helps scalpers & intraday traders spot areas where the market may be overextended.
Works on any symbol & timeframe.
⚠️ Disclaimer: This tool is for educational purposes only. It is not financial advice. Always combine with your own analysis and risk management.
This script “Pump / Dump — RSI OB/OS Only” is a very simple indicator that generates Pump and Dump signals based purely on the RSI overbought/oversold zones.
Pump (Green Up Signal) → When RSI crosses into or stays in the Overbought zone (≥70 by default).
Dump (Red Down Signal) → When RSI crosses into or stays in the Oversold zone (≤30 by default).
⚙️ Features
Adjustable RSI length (default 14).
Customizable Overbought / Oversold levels (default 70/30).
Option to choose between:
Cross Only Mode → Signal appears once when RSI enters the zone.
Zone Mode → Signals appear every bar while RSI stays inside the zone.
Clear visual labels on the chart (green for Pump, red for Dump).
Built-in alert conditions for Pump/Dump events (can be used with TradingView alerts).
🎯 Use Case
Quick visual confirmation of potential momentum shifts.
Helps scalpers & intraday traders spot areas where the market may be overextended.
Works on any symbol & timeframe.
⚠️ Disclaimer: This tool is for educational purposes only. It is not financial advice. Always combine with your own analysis and risk management.
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.
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.