OPEN-SOURCE SCRIPT
Stochastic %B
It's a Stochastic indicator combined with Bollinger %B. This way you just need to check if it is above 1.0 or below 0.0 (Outside Bollinger Bands).
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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