RSI OB/OS Strategy Analyzer

The RSI OB/OS Strategy Analyzer is a comprehensive trading tool designed to help traders identify and evaluate overbought/oversold reversal opportunities using the Relative Strength Index (RSI). It provides visual signals, performance metrics, and a detailed table to analyze the effectiveness of RSI-based strategies over a user-defined lookback period.
█ KEY FEATURES
RSI Calculation
- Calculates RSI with customizable period (default 14)
- Plots dynamic overbought (70) and oversold (30) levels
- Adds background coloring for OB/OS regions
Reversal Signals
- Identifies signals based on RSI crossing OB/OS levels
- Two entry strategies available:
- Revert Cross: Triggers when RSI exits OB/OS zone
- Cross Threshold: Triggers when RSI enters OB/OS zone
- Revert Cross: Triggers when RSI exits OB/OS zone
Trade Direction
- Users can select a trade bias:
- Long: Focuses on oversold reversals (bullish signals)
- Short: Focuses on overbought reversals (bearish signals)
- Long: Focuses on oversold reversals (bullish signals)
Performance Metrics
- Calculates three key statistics for each lookback period:
Win Rate: Percentage of profitable trades
Mean Return: Average return across all trades
Median Return: Median return across all trades
- Metrics calculated as percentage changes from entry price
Visual Signals
- Dual-layer signal display:
BUY: Green triangles + text labels below price
SELL: Red triangles + text labels above price
- Semi-transparent background highlighting in OB/OS zones
Performance Table
- Interactive table showing metrics for each lookback period
- Color-coded visualization:
- Win Rate: Gradient from red (low) to green (high)
- Returns: Green for positive, red for negative
- Win Rate: Gradient from red (low) to green (high)
Time Filtering
- Users can define a specific time window for the indicator to analyze trades, ensuring that performance metrics are calculated only for the desired period.
Customizable Display
- Adjustable table font sizes: Auto/Small/Normal/Large
- Toggle option for table visibility
█ PURPOSE
The RSI OB/OS Strategy Analyzer helps traders:
- Identify mean-reversion opportunities through RSI extremes
- Backtest entry strategy effectiveness across multiple time horizons
- Optimize trade timing through visual historical performance data
- Quickly assess strategy robustness with color-coded metrics
█ IDEAL USERS
- Counter-Trend Traders: Looking to capitalize on RSI extremes
- Systematic Traders: Needing quantitative strategy validation
- Educational Users: Studying RSI behavior in different market conditions
- Multi-Timeframe Analysts: Interested in forward returns analysis
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.
Declinazione di responsabilità
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.