check the same indicator with alert options: https://it.tradingview.com/script/PV1HG1ZH/
This indicator is useful as:
- Trend detector (eg. green bars -> )
- Filter, in combinations with other techniques (eg. green bars, only long)
- Signal: (eg. green bar -> buy long)
The indicator is fully costumizable, i.e. you can adjust period and dource plus change levels for example to visualize overbought and oversold condition. (In the example below, 7 Period and 70,30 levels are choosen)
If you find the work useful, please feel free to donate: https://paypal.me/michelebazzoni
Any feedback is welcome.