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!
Catatan Rilis: A tweak to default OB/OS levels.
Catatan Rilis: The 5th oscillator support added:
- Chande Momentum Oscillator (CMO) could now be applied.
Catatan Rilis: Small coding tweaks!
Catatan Rilis: Added 50-Line which could be useful sometimes.
Catatan Rilis: 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.
Catatan Rilis: Added 0,100-lines to make a better display of Hybrid graph
Catatan Rilis: - 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
Catatan Rilis: 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!
Catatan Rilis: - Optimized OB/OS level calculations
- Added labels to show calculated OB/OS levels (for those who wonder what the calculated levels are)
Catatan Rilis: - 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!
Catatan Rilis: - Small coloring tweaks!
Catatan Rilis: - Added Multi-Timeframe Capability.
Calculations Timeframe could now be changed in options.
Catatan Rilis: - Fixed higher timeframe levels calculation bug!
Catatan Rilis: Made level calculations more strict
Catatan Rilis: - Added support for 2 less common oscillators:
9. Chaikin Money Flow (CMF)
10. Twiggs Money Flow (TMF)
Catatan Rilis: Fixed a bug related to TMF oversold calculation
Catatan Rilis: - Fixed a multi-timeframes calculation bug
- Increased calculations speed
Catatan Rilis: - Fixed another problem related to an annoying Pine MTF functions bug!
Catatan Rilis: - Just made the script more structured by implementing some functions
Catatan Rilis: - 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.
Skrip open-source

Sejalan dengan semangat TradingView, penulis skrip ini telah mempublikasikannya secara open-source, sehingga para trader dapat memahami dan memverifikasinya. Salut untuk sang penulis! Anda dapat menggunakannya secara gratis, tetapi penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk dapat menggunakannya didalam sebuah chart.

Inggin menggunakan skrip ini pada chart?


Was wondering if you would consider to use connors rsi instead of regular instead ?
@jeno_, Maybe in the future!
Thank you very much!
informanerd banek100
@banek100, Hope you could take advantage of this.
How to use this for buy sell? Can u plz explain
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.
+3 Jawab
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