- Bollinger Bands %B
- Money Flow Index (MFI)
- Relative Strength Index (RSI)
This script uses a combination of these 4 oscillators to confirm overbought/oversold and filter the signals of market reverse which could be used for trading binary options.
You may select which oscillators you want to apply and of course change the source, the length of the calculations and the overbought/oversold levels.
Also the script will draw a combined graph which is the average of the selected oscillators in the options.
Send me your ideas!
- Chande Momentum Oscillator (CMO) could now be applied.
From now on, there is a new hybrid graph instead, which represents the OB/OS market exactly.
6. Commodity Channel Index (CCI)
7. Keltner Channel %K
8. Rate Of Change (ROC)
- Made some changes to default OB/OS levels and colors
- Applied some coding tweaks
Manual setting of OB/OS levels removed; Instead, a procedure of automatic levels detection implemented which leads to some advantages:
- There is no more need for taking care of setting OB/OS levels manually by the user (specially an amateur one).
- The whole process of OB/OS detection could fit any data from any feed automatically.
- OB/OS levels could vary dynamically over time.
So it's all about reacting to any changes in market conditions. Good Luck!
- Added labels to show calculated OB/OS levels (for those who wonder what the calculated levels are)
- Changed default options
- Added weaker colorized signals which lead to better view and understanding of the chart, trends, divergences and thus more accurate decisions!
Calculations Timeframe could now be changed in options.
9. Chaikin Money Flow (CMF)
10. Twiggs Money Flow (TMF)
- Increased calculations speed
11. Disparity Index (DIX)
12. Relative Vigor Index (RVI/RVGI)
- Manual setting of OB/OS levels is now possible again. Feel free to set OB/OS levels as you wish or leave the options as they are to make the calculations automatic.
- Converted to Pine v5
- Increased overall performance
- Made indicator settings more user-friendly
- Added alert conditions to the settings
- Made levels auto-calculation better
- Killed some tiny bugs
- Fixed DIX normalization error
- Added auto-level option and made alerts better
- Killed some tiny bugs and increased code performance
- Added hybrid OB/OS levels and labels
+ 4 above-mentioned ones!
- At last, fixed issues regarding "The other time frame and ticker" calculations
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 a publication is governed by House Rules. You can favorite it to use it on a chart.