OPEN-SOURCE SCRIPT
Super Oscillator - Advanced Trend & Momentum Indicator
📖 Description
The Super Oscillator is an advanced oscillator-type indicator designed for trend & momentum analysis.
This tool helps traders identify overbought & oversold zones while also determining trend direction.
By incorporating SuperTrend elements, it enhances the accuracy of entry and exit signals.
📊 Features
✅ Trend & Momentum Analysis: Detects price momentum and trend reversals
✅ Overbought & Oversold Zones: Above 90 indicates overbought, below 10 suggests oversold conditions
✅ Filtering Function: Only allows long entries above 50 and short entries below 50
✅ Noise Reduction: Smooths price fluctuations to minimize false signals
✅ Customizable Settings: Adjustable ATR and filtering parameters
🎯 How to Use
1️⃣ Buy Signal: When the Super Oscillator drops below 10 and shows upward momentum
2️⃣ Sell Signal: When the Super Oscillator rises above 90 and shows downward momentum
3️⃣ Filtering: Long entries are only valid if the oscillator is above 50, short entries only below 50
4️⃣ Divergence Trading: Look for discrepancies between price action and the oscillator for potential reversals
⚙️ Indicator Settings
🔹 ATR Length: Used for trailing stop calculations
🔹 Super Oscillator Sensitivity: Adjusts the oscillator's responsiveness
🔹 Overbought/Oversold Thresholds: Customizable levels for extreme market conditions
📈 Example Usage
📌 Trend Following Strategy:
Uptrend: Super Oscillator stays above 50 and price continues making higher highs → Long entry
Downtrend: Super Oscillator stays below 50 and price makes lower lows → Short entry
📌 Reversal Strategy:
Buy when Super Oscillator is below 10 and starts rising
Sell when Super Oscillator is above 90 and starts falling
📢 Disclaimer
This indicator is provided for educational purposes only and does not constitute financial advice.
Traders should incorporate risk management strategies and use this indicator alongside other tools before making trading decisions.
The Super Oscillator is an advanced oscillator-type indicator designed for trend & momentum analysis.
This tool helps traders identify overbought & oversold zones while also determining trend direction.
By incorporating SuperTrend elements, it enhances the accuracy of entry and exit signals.
📊 Features
✅ Trend & Momentum Analysis: Detects price momentum and trend reversals
✅ Overbought & Oversold Zones: Above 90 indicates overbought, below 10 suggests oversold conditions
✅ Filtering Function: Only allows long entries above 50 and short entries below 50
✅ Noise Reduction: Smooths price fluctuations to minimize false signals
✅ Customizable Settings: Adjustable ATR and filtering parameters
🎯 How to Use
1️⃣ Buy Signal: When the Super Oscillator drops below 10 and shows upward momentum
2️⃣ Sell Signal: When the Super Oscillator rises above 90 and shows downward momentum
3️⃣ Filtering: Long entries are only valid if the oscillator is above 50, short entries only below 50
4️⃣ Divergence Trading: Look for discrepancies between price action and the oscillator for potential reversals
⚙️ Indicator Settings
🔹 ATR Length: Used for trailing stop calculations
🔹 Super Oscillator Sensitivity: Adjusts the oscillator's responsiveness
🔹 Overbought/Oversold Thresholds: Customizable levels for extreme market conditions
📈 Example Usage
📌 Trend Following Strategy:
Uptrend: Super Oscillator stays above 50 and price continues making higher highs → Long entry
Downtrend: Super Oscillator stays below 50 and price makes lower lows → Short entry
📌 Reversal Strategy:
Buy when Super Oscillator is below 10 and starts rising
Sell when Super Oscillator is above 90 and starts falling
📢 Disclaimer
This indicator is provided for educational purposes only and does not constitute financial advice.
Traders should incorporate risk management strategies and use this indicator alongside other tools before making trading decisions.
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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