%R Trend Exhaustion [upslidedown]

Alone these are fairly ordinary but together they provide a very interesting trend exhaustion/reversal system while filtering out some noise. I have highlighted key areas of interest with filled boxes. An "area of interest" is when there is confluence between the short and long period %R values along with being overbought or oversold. Once there is a break in the overbought or oversold trend, an arrow will print.
This is one of my odder ideas that appears to have some merit and detects interesting tops or bottoms (or confirms a trend reversal) so I'm publicly publishing for the community to find. If you find this useful please reach out and let me know how you use it as it's fairly unique... and thus different than anything I've ever seen or used.
- Adjusted default smoothing value of 3 for the slow signal to reduce noise (previously no smoothing was default)
- Crossover dot plotting (bullish and bearish experimental)
- Adjustable triangle plot locations so indicator can be used as overlay on wavetrend or other indicator
- Fixed z-index for elements
- Difference plotting (default is turned off)
Hooray! ❄️ Happy Holidays ❄️
- It's prettier with gradient colors as oscillators near OB/OS zones
- Multiple display modes, allowing the user to easily overlay script on other oscillators, candles, or use as a standalone oscillator.
- An easy all in one alert system
- Misc performance/code improvements thanks to jason5480 and a few other friends who offered valuable input
- Support for entry signal generation into jason5480's absolutely incredible backtesting engine "Template Trailing Strategy" tradingview.com/v/n8bgynWl/
- Added new zero line crossover strategy
- Fixed display indicator on light/white backgrounds
- Improved alerts by allowing the single alert system to turn on/off alerts
- Attempted to describe each alert better with new default alert text
- Removed an old experimental "expiration" idea that would identify market phases
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Penafian
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Untuk akses pantas pada carta, tambah skrip ini kepada kegemaran anda — ketahui lebih lanjut di sini.
🔗 whop.com/c/upslidedown/t use discount code FRIENDOFUSD for 20% off FOREVER