Eclipse Multi-Oscillator [JOAT]

Eclipse Multi-Oscillator [JOAT] - Unified Momentum Confluence System

Introduction and Purpose

Eclipse Multi-Oscillator is an open-source indicator that combines four classic oscillators (RSI, Stochastic, CCI, and Williams %R) into a single unified view with confluence detection. The core problem this indicator solves is oscillator disagreement: traders often see RSI oversold while Stochastic is neutral, or CCI overbought while Williams %R is mid-range. This creates confusion about the true momentum state.

This indicator addresses that by displaying all four oscillators together and counting how many agree on overbought or oversold conditions, providing a clear confluence score that cuts through the noise.

Why These Four Oscillators Work Together

Each oscillator measures momentum differently, and their combination provides a more complete picture:

1. RSI (Relative Strength Index) - Measures the magnitude of recent price changes. Best at identifying momentum exhaustion.

2. Stochastic - Compares closing price to the high-low range. Best at identifying where price is within its recent range.

3. CCI (Commodity Channel Index) - Measures price deviation from statistical mean. Best at identifying unusual price movements.

4. Williams %R - Similar to Stochastic but inverted. Provides confirmation of Stochastic readings.

When 3 or more of these oscillators agree on overbought or oversold, the signal is significantly more reliable than any single oscillator alone.

How Confluence Scoring Works

The indicator counts how many oscillators are in extreme territory:

int obCount = 0
if rsi > rsiOB
    obCount += 1
if stochK > stochOB
    obCount += 1
if cci > cciOB
    obCount += 1
if willRScaled > stochOB
    obCount += 1

bool strongOverbought = obCount >= 3
bool strongOversold = osCount >= 3

The confluence score ranges from -4 (all oversold) to +4 (all overbought), with 0 being neutral.

Signal Types

• Strong Oversold - 3+ oscillators below oversold threshold (potential bounce)
  
• Strong Overbought - 3+ oscillators above overbought threshold (potential pullback)
  
• OB/OS Exit - RSI leaving extreme zone with Stochastic confirmation (potential reversal)
  
• Divergence - Price makes new high/low while RSI does not (potential reversal warning)
  

Dashboard Information

• RSI/Stoch K/CCI/Will %R - Current values with zone status (OB/OS/MID)
  
• Confluence - Overall bias (STRONG OS, STRONG OB, Lean Bull/Bear, Neutral)
  
• OB Count - How many oscillators are overbought (0-4)
  
• OS Count - How many oscillators are oversold (0-4)
  

How to Use This Indicator

For Reversal Trading:
1. Wait for Strong Oversold (3+ oscillators agree)
2. Look for bullish candlestick pattern or support level
3. Enter long with stop below recent low
4. Take profit when confluence returns to neutral or overbought

For Trend Confirmation:
1. Check confluence direction matches your trade bias
2. Avoid longs when confluence is strongly overbought
3. Avoid shorts when confluence is strongly oversold

For Divergence Trading:
1. Watch for "D" labels indicating RSI divergence
2. Bullish divergence at support = potential long
3. Bearish divergence at resistance = potential short

Input Parameters

• RSI Length (14) - Period for RSI calculation
  
• Stochastic K/D Length (14/3) - Periods for Stochastic
  
• CCI Length (20) - Period for CCI
  
• Williams %R Length (14) - Period for Williams %R
  
• OB/OS Thresholds - Customizable levels for each oscillator
  

Timeframe Recommendations

• 15m-1H: Good for intraday momentum analysis
  
• 4H-Daily: Best for swing trading confluence
  
• Very short timeframes may produce noisy signals
  

Limitations

• All oscillators can remain in extreme territory during strong trends
  
• Confluence does not predict direction, only identifies extremes
  
• Divergence detection is simplified and may miss some patterns
  
• Works best in ranging or moderately trending markets
  

Open-Source and Disclaimer

This script is published as open-source under the Mozilla Public License 2.0 for educational purposes. The source code is fully visible and can be studied.

This indicator does not constitute financial advice. Oscillator confluence does not guarantee reversals. Past performance does not guarantee future results. Always use proper risk management.

- Made with passion by officialjackofalltrades