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Hybrid Overbought/Oversold Detector + Put/Call Signals

There are many indicators of overbought/oversold conditions out there. Some of more common ones are:

- Bollinger Bands %B
- Money Flow Index ( MFI )
- Relative Strength Index ( RSI )
- Stochastic

This script uses a combination of these 4 oscillators to confirm overbought/oversold and filter the signals of market reverse which could be used for trading binary options.
You may select which oscillators you want to apply and of course change the source, the length of the calculations and the overbought/oversold levels.
Also the script will draw a combined graph which is the average of the selected oscillators in the options.

Send me your ideas!
Note di rilascio: A tweak to default OB/OS levels.
Note di rilascio: The 5th oscillator support added:
- Chande Momentum Oscillator (CMO) could now be applied.
Note di rilascio: Small coding tweaks!
Note di rilascio: Added 50-Line which could be useful sometimes.
Note di rilascio: Changed the structure of the code a bit and removed "Total Average" graph due to uselessness!
From now on, there is a new hybrid graph instead, which represents the OB/OS market exactly.
Note di rilascio: Added 0,100-lines to make a better display of Hybrid graph
Note di rilascio: - Added support for 3 new oscillators:
6. Commodity Channel Index (CCI)
7. Keltner Channel %K
8. Rate Of Change (ROC)

- Made some changes to default OB/OS levels and colors
- Applied some coding tweaks
Note di rilascio: Major Update!
Manual setting of OB/OS levels removed; Instead, a procedure of automatic levels detection implemented which leads to some advantages:
- There is no more need for taking care of setting OB/OS levels manually by the user (specially an amateur one).
- The whole process of OB/OS detection could fit any data from any feed automatically.
- OB/OS levels could vary dynamically over time.

So it's all about reacting to any changes in market conditions. Good Luck!
Note di rilascio: - Optimized OB/OS level calculations
- Added labels to show calculated OB/OS levels (for those who wonder what the calculated levels are)
Note di rilascio: - Minor tweaks
- Changed default options
- Added weaker colorized signals which lead to better view and understanding of the chart, trends, divergences and thus more accurate decisions!
Note di rilascio: - Small coloring tweaks!
Note di rilascio: - Added Multi-Timeframe Capability.
Calculations Timeframe could now be changed in options.
Note di rilascio: - Fixed higher timeframe levels calculation bug!
Note di rilascio: Made level calculations more strict
Note di rilascio: - Added support for 2 less common oscillators:
9. Chaikin Money Flow (CMF)
10. Twiggs Money Flow (TMF)
Note di rilascio: Fixed a bug related to TMF oversold calculation
Note di rilascio: - Fixed a multi-timeframes calculation bug
- Increased calculations speed
Note di rilascio: - Fixed another problem related to an annoying Pine MTF functions bug!
Note di rilascio: - Just made the script more structured by implementing some functions
Note di rilascio: - Added support for 2 other oscillators:
11. Disparity Index (DIX)
12. Relative Vigor Index (RVI/RVGI)
- Manual setting of OB/OS levels is now possible again. Feel free to set OB/OS levels as you wish or leave the options as they are to make the calculations automatic.
Script open-source

Nello spirito di condivisione promosso da TradingView, l'autore (al quale vanno i nostri ringraziamenti) ha deciso di pubblicare questo script in modalità open-source, così che chiunque possa comprenderlo e testarlo. Puoi utilizzarlo gratuitamente, ma il riutilizzo del codice è subordinato al rispetto del Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

Vuoi usare questo script sui tuoi grafici?

Commenti

Thank you very much!
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informanerd banek100
@banek100, Hope you could take advantage of this.
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How to use this for buy sell? Can u plz explain
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informanerd sameermamalik
@sameermamalik, Every signal means you will have a reversal in near future. Bolder color is the signal of stronger reversal, even a trend change. So you could use this for binary trading, but I suggest you to use it as a confirmation alongside other indicators/strategies.
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