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SB Average Gain/Loss Oscillator

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I created an algorithm to analyze overbought/oversold levels through the use of average gain/loss.

This method of measurement is utilizing the 20 period and 50 period moving averages.
Light Green: 20 Period Oversold
Dark Green: 50 Period Oversold
Green Dot: 20 and 50 Period Oversold

Light Red: 20 Period Overbought
Dark Red: 50 Period Overbought
Red Dot: 20 and 50 Period Overbought

Places of overlap green/red would be considered indecision and/or volatility in both directions.

I would consider this more of an sentiment indicator, bullish/bearish. The reason for this classification is that its only using price action. No real technical indicators other than period gain/loss).
Nota Keluaran
I updated the chart so that I am now in compliance with the rules and guidelines of the community.
Nota Keluaran
Changed the line colors from black to green/red.

Green line is the 20 moving average of the average gain/loss oscillator
Red line is the 50 moving average of the average gain/loss oscillator

I also added MTF settings so the user could change the time frame of the indicator.
Nota Keluaran
Updated color scheme to match a few of my other indicators.
Nota Keluaran
Removed indicators from the chart to abide by TV rules.
Nota Keluaran
Changed background colors

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.