Hybrid Overbought/Oversold Detector + Put/Call Signals

24 juil. 2020

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!

5 août 2020

Notes de version

A tweak to default OB/OS levels.

6 août 2020

Notes de version

The 5th oscillator support added:
- Chande Momentum Oscillator (CMO) could now be applied.

18 août 2020

Notes de version

Small coding tweaks!

21 août 2020

Notes de version

Added 50-Line which could be useful sometimes.

27 août 2020

Notes de version

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.

27 août 2020

Notes de version

Added 0,100-lines to make a better display of Hybrid graph

23 oct. 2020

Notes de version

- 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

26 oct. 2020

Notes de version

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!

28 oct. 2020

Notes de version

- Optimized OB/OS level calculations
- Added labels to show calculated OB/OS levels (for those who wonder what the calculated levels are)

31 oct. 2020

Notes de version

- 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!

2 nov. 2020

Notes de version

- Small coloring tweaks!

14 nov. 2020

Notes de version

- Added Multi-Timeframe Capability.
Calculations Timeframe could now be changed in options.

14 nov. 2020

Notes de version

- Fixed higher timeframe levels calculation bug!

20 nov. 2020

Notes de version

Made level calculations more strict

13 déc. 2020

Notes de version

- Added support for 2 less common oscillators:
9. Chaikin Money Flow (CMF)
10. Twiggs Money Flow (TMF)

14 déc. 2020

Notes de version

Fixed a bug related to TMF oversold calculation

8 janv. 2021

Notes de version

- Fixed a multi-timeframes calculation bug
- Increased calculations speed

8 janv. 2021

Notes de version

- Fixed another problem related to an annoying Pine MTF functions bug!

12 janv. 2021

Notes de version

- Just made the script more structured by implementing some functions

13 févr. 2021

Notes de version

- 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.

3 avr. 2022

Notes de version

- Restructured the code
- Converted to Pine v5
- Increased overall performance
- Made indicator settings more user-friendly
- Added alert conditions to the settings
- Made levels auto-calculation better
- Killed some tiny bugs

24 avr. 2023

Notes de version

- Fixed calculation errors for some tickers; Now the indicator should work on all charts!
- Fixed DIX normalization error
- Added auto-level option and made alerts better
- Killed some tiny bugs and increased code performance

24 avr. 2023

Notes de version

- Added symbol selection option; It's now possible to see OB/OS conditions of another ticker on current chart.
- Added hybrid OB/OS levels and labels
+ 4 above-mentioned ones!

24 avr. 2023

Notes de version

3rd update in one day!
- At last, fixed issues regarding "The other time frame and ticker" calculations