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Overbought & Oversold by Vito_290
📘 OB/OS Candle Color – Confluence + Volume (v6)
This indicator colors candles based on the confluence of overbought (green) and oversold (red) conditions, combining technical signals from price and volume to provide reliable, uncluttered visual readings.
🔹 What It Measures
RSI → classic strength/weakness extremes.
Stochastic %K → short-term oscillations.
Bollinger %B + Price Z-Score → statistical deviations from the mean.
MFI, CMF, Volume Z-Score, OBV Z-Score → intensity and direction of capital flow.
🔹 How It Works
Each metric produces an overbought or oversold signal.
The indicator counts how many conditions are simultaneously true.
If the count exceeds the user-defined threshold (Min Conditions), the candle is colored:
Green → Overbought
Red → Oversold
An optional EMA-based trend filter avoids counter-trend signals.
🔹 Why It’s Useful
A single RSI or isolated volume spike can be misleading.
This tool filters market noise by combining eight independent signals, giving a much stronger confirmation of market extremes.
🔹 Recommended Timeframes
Optimized for 15m, 30m, 1h, 4h, and 1D charts.
Adjust Min Conditions depending on timeframe:
15–30m → 4–5
1h → 3–4
4h–1D → 3
🔹 Usage Tips
In trend-following strategies → keep the EMA filter ON.
In mean-reversion setups → turn the filter OFF to catch short-term reversals.
Give more weight to signals with extreme volume spikes and price beyond Bollinger Bands.
This is not an automatic trading system, but a visual trigger to help identify overextended zones and improve entry/exit timing.
This indicator colors candles based on the confluence of overbought (green) and oversold (red) conditions, combining technical signals from price and volume to provide reliable, uncluttered visual readings.
🔹 What It Measures
RSI → classic strength/weakness extremes.
Stochastic %K → short-term oscillations.
Bollinger %B + Price Z-Score → statistical deviations from the mean.
MFI, CMF, Volume Z-Score, OBV Z-Score → intensity and direction of capital flow.
🔹 How It Works
Each metric produces an overbought or oversold signal.
The indicator counts how many conditions are simultaneously true.
If the count exceeds the user-defined threshold (Min Conditions), the candle is colored:
Green → Overbought
Red → Oversold
An optional EMA-based trend filter avoids counter-trend signals.
🔹 Why It’s Useful
A single RSI or isolated volume spike can be misleading.
This tool filters market noise by combining eight independent signals, giving a much stronger confirmation of market extremes.
🔹 Recommended Timeframes
Optimized for 15m, 30m, 1h, 4h, and 1D charts.
Adjust Min Conditions depending on timeframe:
15–30m → 4–5
1h → 3–4
4h–1D → 3
🔹 Usage Tips
In trend-following strategies → keep the EMA filter ON.
In mean-reversion setups → turn the filter OFF to catch short-term reversals.
Give more weight to signals with extreme volume spikes and price beyond Bollinger Bands.
This is not an automatic trading system, but a visual trigger to help identify overextended zones and improve entry/exit timing.
Skrip terproteksi
Skrip ini diterbitkan sebagai sumber tertutup. Namun, anda dapat menggunakannya secara bebas dan tanpa batasan apa pun – pelajari lebih lanjut di sini.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Skrip terproteksi
Skrip ini diterbitkan sebagai sumber tertutup. Namun, anda dapat menggunakannya secara bebas dan tanpa batasan apa pun – pelajari lebih lanjut di sini.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.