This indicator will be scanning for ranges of extremity.
It measures multiple underlying factors in the financial markets like measuring levels of strength using , momentum using Stochastics and extreme ranges using .
What is "extreme range" criteria: ranges above 70 or below 30 on and are considered extreme, as well as moments of extreme exceeding overbought and oversold levels on BBs.
All monitored data is to be plotted in a horizontal row, providing information about oversold, overbought and mid-range market conditions. This data will either meet the criteria simultaneously and plot a Red or Green indication or it will miss one or more requirements, plotting Gray indications.
This indicator is a real-time indicator, meaning it's updating live and due to this tracking in real-time, indications not yet 'printed' can give false readings. For performance purposes, it is best practice to allow all indication plots to 'print', meaning if a plot ever changes in color, it's best to allow that candle to fully close, ticking to 0:00 before confirming the accuracy of the indicator's findings.
How it works:
This indicator scans multiple sources of data simultaneously. When appropriate conditions within a trading range are met, the indicator will update it's color.
The indicator will plot Gray, Green, and Red indications which can be explained below.
Grey plots: No indication of full extremity, meaning one or more conditions being tracked has not met requirements, suggesting price is likely in mid-range.
Green plots: Extremity level lows have been simultaneously met, data indicates extreme oversold conditions are likely present.
Red plots: Extremity level highs have been simultaneously met, data indicates extreme overbought conditions are likely present.
What market will this indicator work on?
Stocks > Forex > Crypto
All the above are supported by this indicator.
Charts with more history have more data for the indicator to utilize. (Lack of data can result in poor performance.)
- This indicator performs best on 4H, 12H, D, and W timeframes, although you can use this indicator on any timeframe TradingView supports.
This indicator was created to find ranges of extreme trade which can help traders be more confident in their timing with the market.
Trading can be difficult, let an algorithm scan the market and monitor for early signs of changes.
Past performance does not guarantee future results. Please do your due diligence when placing trades.
alerts feature created & updated
L'accesso a questo script è riservato agli utenti autorizzati dall'autore, solitamente dietro pagamento di una commissione. Puoi aggiungerlo ai preferiti, ma sarai in grado di utilizzarlo solo una volta ricevuto il via libera da parte dell'autore. Per maggiori informazioni, puoi controllare le istruzioni qui sotto o contattare direttamente cswxg.
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To gain access to this indicator: Please visit https:linktr.ee/alertigoplus for gaining authorization. OR Feel free to PM me questions about the indicator or how to access it! I will respond ASAP! Thanks!
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