businessduck

Rainbow Oscillator

The Rainbow Oscillator is a technical indicator that shows prices in overbought or oversold areas. That allows you to catch the price reversal point.


---------------
FEATURES
---------------

.:: Dynamic levels ::.
The indicator consists of levels (price reversal zones) that correlate with each other with other fibonacci numbers. Each level causes the probability of a price reversal.
All levels are formed from existing non-smoothed oscillator values. This allows you not to fix turn zone thresholds, for example, -100 and 100, as is done in CCI
or the values ​​30 and 70 for the reversal zone in the RSI indicator. Dynamic levels adjust to the spikes in oscillator values ​​and allow you to find price reversal points more often and no less efficiently.

.:: Composite oscillator (3 in 1) ::.
The oscillator line consists of three measurements of the RSI , CCI , Stoch indicators at once in a wide percentage. At the same time, thanks to the settings, you can easily get rid of one of the indicators.

.:: CCI + RSI + Stoch ratio setting ::.
Each of the natural indicators has its own weight in the calculation formula: w2 * cci ( + w1 * ( rsi - 50) + (1 - w2 - w1) * ( stoch - 50), this allows you to see an oscillator to any of these various indicators or sharpness weight for each

.:: Smoothing levels and lines of the oscillator ::.
Smoothing the oscillator values ​​allows you to filter out the noise and get more accurate data. Stroking the levels allows you to adjust the delay of the inputs.

.:: Activity during APARTMENT ::.
Dynamic creation of levels allows you to find in the price reversal zone, even when the price is in a flat (flat)


----------------
SETTINGS
----------------

.:: RSI weight / CCI weight ::.
Weight control coefficients for RSI and CCI indicators, respectively. When you set RSI Weight = 0, equalize the combo of CCI and Stoch , when RSI Weight is zero and CCI Weight is equal to the oscillator value will be plotted
only from Stoch . Intermediate values ​​have a high degree of measurement of each of the three oscillators in percentage terms from 0 to 100. The calculation uses the formula: w2 * cci ( + w1 * ( rsi - 50) + (1 - w2 - w1) * ( stoch - 50),
where w1 is RSI Weight and w2 is CCI Weight, Stoch weight is calculated on the fly as (1 - w2 - w1), so the sum of w1 + w2 should not exceed 1, in this case Stoch will work as opposed to CCI and RSI .

.:: Oscilloscope period ::.
This is the period of all oscillators, it is set by one parameter for all. Perhaps, in the expected versions, the periods will be configured separately.

.:: Oscilloscope M.A. Period ::.
Periodic smoothing of the oscillator line. Serves for finer tuning to eliminate noise. If you select a value of 0, smoothing is disabled and the Oscilloscope Samples setting will automatically stop working.

.:: Waveform samples ::.
setting allows you to set the amount of smoothing for the oscillator line. Oscilloscope MA type

.:: Oscilloscope MA Type ::.
Moving average frequency type for oscillator line sliding

.:: Level period ::.
Periodically moving averages used to form the levels (zone) of the Rainbow Oscillator indicator

.:: Level offset ::.
Additional setting for shifting levels from zero points. Can be useful for absorbing levels and filtering input signals. The default is 0.

.:: Redundant level ::.
It characterizes the severity of the state of the state at each iteration of the level of the disease. If set to 1 - the levels will not decrease when the oscillator values ​​fall. If it has a value of 0.99 - the levels are reduced by 0.01
each has an oscillator in 1% of cases and is pressed to 0 by more aggressive ones.

.:: Samples of smoothed levels ::.
setting allows you to set the number of strokes per level. Measuring the number of averages with the definition of the type of moving averages

.:: Type of MA level ::.
Type of moving average, average for the formation of a smoothing overbought and oversold zone
Notes de version:
  • Stochastic period fix
  • Signal circles fix
  • Changed colors
  • Default settings renew
  • Added customized weight for stochastic
  • Added two lines, fast and slow
  • Added trend indicators
  • Added trend filtering
  • Renew long and short signals

Notes de version:
  • Alerts added
Notes de version:
  • On chain LONGS and SHORTS ratio added as oscillator source data, it's may be configured for any instrument, ETH, XRP and other...

Script open-source

Dans le véritable esprit de TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par le règlement. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.

Vous voulez utiliser ce script sur un graphique ?