Multi Band Channel - Oversold/Overbought Oscillator

Microsoft CorporationNASDAQ

Descrizione

⋅ 6 feb 2021 01:00

If your trading strategy is to sell the RIPs and buy the DIPs, this is an indicator for you.

This is based on the multi band indicator present here:

tradingview.com/script/De99oBI8-Multi-Band-Channel/

Code is simplified to generate as many bands as possible and hence divide price into as many states as possible based on these bands. Moving Average Type defines what moving average to be considered for Bollinger Band/Keltner Channel. This is based on

tradingview.com/script/gtcrOAZ3-Bollinger-Bands-Custom-moving-average/

Once we derive price state based on multi bollinger band/keltner channel levels, we then look for highest and lowest levels in LoopbackPeriod.

Overbought level = Highest Level - Offset
Oversold level = Lowest Level + Offset
Blue line indicates current state.

Bollinger Bands (BB)Keltner Channels (KC)overbought-oversold

Commenti

zorftrader

⋅ 14 dic 2021 08:20

how to use this indicator. thanks

Trendoscope

⋅ 14 dic 2021 09:18

@zorftrader, You can use it similar to RSI

zorftrader

⋅ 16 dic 2021 02:23

@HeWhoMustNotBeNamed, thanks

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