The following indicator aims to return information over RSIs using multiple periods, including the percentage of RSIs of different periods being overbought/oversold, as well as the average between these multiple RSIs.
The percentage of RSIs of different periods being overbought/oversold is additionally used to return adaptive overbought/oversold levels.
This indicator displays Cyclic Relative Strength Index based on Decoding the Hidden Market Rhythm, Part 1 written by Lars von Thienen.
To determine true or false for Overbought / Oversold are unnecessary, therefore these should be either strong or weak.
Noise for weak Overbought / Oversold can be filtered, especially for smaller timeframe.
The Relative Strength Exponential Moving Average was created by Vitali Apirine (Stocks and Commodities Jan 2022 pgs 22-25) and this is a handy moving average that combines a typical overbought/oversold mechanic with an overall trend indicator. Even though the typical length is so large it reacts extremely quickly when the stock becomes overbought or oversold....
This is Normal RSI but additional Bands of Support and Resistance are added for confirmations.
Settings are as below
for Bull/ Up trend
Resistance1 = 80
Resistance2 = 90
Price would be getting rejection on Resistance levels and will retrace.
Support1 = 40
Support2 = 50
After getting Support on these levels price will be resuming again its Uptrend.
Mean Reversion Channel objective, based on Mean Reversion theory ( everything has a tendency to revert back to its mean), is to help visualizing:
Inner Channel -> Dynamic Support and Resistance
Outer Channel -> Overbought/Oversold Zone which may signal consolidation phase or potential reversal due to unsustainable move
Details on some of...
Updating an older concept here with some more oversold/overbought zones.
Pretty self explanatory, red zone indicate overbought zones and green zone is a oversold. Often, price likes to bounce off of the lower bounds of these zones, but it can sometimes extend all the way through the zone onto the upper boundary.
There are many lines to this indicator, i prefer...
My first script. Based on RSI , CCI , RVI, and MFI . You can customize overbought or oversold thresholds for any indicator.
If you have any ideas - welcome.
This is not financial advice. Trade on your own risk.
RSI Sᴜᴘᴘᴏʀᴛ & Rᴇꜱɪꜱᴛᴀɴᴄᴇ ʙʏ DGT
This experimental study attempts to translate Relative Strength Index (RSI) threshold levels of oversold/overbought and bull/bear zones as probable Price Support and Resistance levels
Support & Resistance Levels , the main aim of the study. Level calculations are based on Relative Strength Index (RSI) ...
This is Screener script for Mean Reversion Channel Indicator
█ Description & How To Use
The screener works by scanning through up to 40 symbols and list down symbols that are currently within Overbought/Oversold Zone as defined by Mean Reversion Channel indicator.
The Overbought/Oversold Zone are further categorized and sorted by:
An overlay version of pertinent signals from my version of LazyBear's Wavetrend Oscillator.
Shows momentum of long period WTO as either background colors or symbols.
Shows continuation and reversal trade signals.
If Secondary WTO is above the center line (momentum is long), then symbols print across the top of the chart when the primary (faster) WTO comes into...
The Adaptive Stochastic Indicator V1 was created by John Ehlers (Rocket Science For Traders pgs 233-234) and this indicator uses the same calculations to find a cycle period that is then used for both the creation of the stochastic indicator but also for the smoothing to create a double smoothed stochastic indicator. Because it is calculated this way, this...
Corrected Relative Volatility Index. This indicator was originally developed by Donald Dorsey (Stocks & Commodities V.11:6 (253-256): The Relative Volatility Index).
The indicator was revised by Dorsey in 1995 (Stocks & Commodities V.13:09 (388-391): Refining the Relative Volatility Index).
I suggest the refined RVI with optional settings. If you disabled...
This oscillator is made of three components, all derived from the SuperTrend indicator. This approach allows the user to easily determine overbought/sold zones, identify whether a retracement is present or if the price is ranging or trending. It also allows for the anticipation of the potential price cross with the SuperTrend.
We provide additional information...
I'm guessing most of you are familir with LazyBear's adaptation of the Wavetrend Oscillator; it's one of the most popular indicators on TradingView. I know others have done adaptations of it, but I thought I might as well, because that's kind of a thing I like doing.
In this version I've added a second Wavetrend plot. This is a thing I like to do. The longer...
This indicator is a copy of my RSI Overbought/Oversold Divergence Indicator with-Alerts
Only difference is that the alerts are disabled, instead it uses tradingviews strategy tester signals
If you want alerts just use the other indicator
Prices high above the moving average (MA) or low below it are likely to be remedied in the future by a reverse price movement as stated in an Article by Denis Alajbeg, Zoran Bubas and Dina Vasic published in International Journal of Economics, Commerce and Management
Here comes a study to indicate the idea of this article, Price Distance to its Moving Averages...