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Hybrid Overbought/Oversold Detector + Put/Call Signals

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!
Catatan Pelepasan: A tweak to default OB/OS levels.
Catatan Pelepasan: The 5th oscillator support added:
- Chande Momentum Oscillator (CMO) could now be applied.
Catatan Pelepasan: Small coding tweaks!
Catatan Pelepasan: Added 50-Line which could be useful sometimes.
Catatan Pelepasan: 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.
Catatan Pelepasan: Added 0,100-lines to make a better display of Hybrid graph
Catatan Pelepasan: - 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
Catatan Pelepasan: 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!
Catatan Pelepasan: - Optimized OB/OS level calculations
- Added labels to show calculated OB/OS levels (for those who wonder what the calculated levels are)
Catatan Pelepasan: - 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!
Catatan Pelepasan: - Small coloring tweaks!
Catatan Pelepasan: - Added Multi-Timeframe Capability.
Calculations Timeframe could now be changed in options.
Catatan Pelepasan: - Fixed higher timeframe levels calculation bug!
Catatan Pelepasan: Made level calculations more strict
Catatan Pelepasan: - Added support for 2 less common oscillators:
9. Chaikin Money Flow (CMF)
10. Twiggs Money Flow (TMF)
Catatan Pelepasan: Fixed a bug related to TMF oversold calculation
Catatan Pelepasan: - Fixed a multi-timeframes calculation bug
- Increased calculations speed
Catatan Pelepasan: - Fixed another problem related to an annoying Pine MTF functions bug!
Catatan Pelepasan: - Just made the script more structured by implementing some functions
Catatan Pelepasan: - 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.
Skrip sumber terbuka

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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