In order to detect a trend reversal (for a scalping trade), the script is checking multiple oscillators ( Stochastic RSI, RSI, TS Oscillator, etc) looking for Overbought or Oversold scenarios. After such a scenario is detected, the indicator verifies the state of the Volume, BollingerBands, the candle size and/or pattern in order to trigger a signal.
*The indicator will not work on exchanges that do not provide volume data!
The only adjustable input is the lookback length, which adjusts the maximum allowed distance (number of candles) between the Oscillator Overbought/Oversold states, BollingerBands state and candle size/pattern condition.