Buy/Sell Oscillator (BSO)

📊 Buy/Sell Oscillator (BSO) – TradingView Script (Quick Guide)
What It Is:
A momentum-based indicator that plots buy/sell signals using a custom oscillator similar to RSI.

How It Works:

1. Calculates average gain/loss over a set period using Wilder’s method.
   
2. Converts the ratio into a BSO value (0–100 scale).
   
3. Buy Signal (Green Arrow): When BSO crosses below 40 (oversold).
   
4. Sell Signal (Red Arrow): When BSO crosses above 60 (overbought).
   

How to Use:

1. Apply on intraday charts (1–5 min) for momentum trading.
   
2. Buy on green arrow + price strength.
   
3. Sell or short on red arrow + weakness.
   
4. Works best with trend or volume confirmation.
   

Customizable:
Length, overbought/oversold levels, arrow visibility.