OPEN-SOURCE SCRIPT

G-Oscillator Strength v.1

Hello this is my new indicator. Purpose of this indicator is to find the strength of the trend.

This indicator was developed by RSI(14) and Stochastic(50)

How to used

Red = RSI(14) & Sto(50) < 40 [ Strong bear ]

Lightblue = RSI(14) >= 50 and Sto(40) < 50 [weak bull]

Darkblue = RSI(14) & Sto(40) >= 50 [Strong bull]

Green = Sto(40) >= 80 [Exterme bull]

Yellow = RSI(14) < 50 and Sto(40) >= 50

Buy&Sell

Buy signal for this indicator is Lightblue to Darkblue

Sell signal is Green to Darkblue or Darkblue to Yellow
OscillatorsRelative Strength Index (RSI)Stochastic Oscillatortrend

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.

Want to use this script on a chart?

Disclaimer