Bonsai OS (Oscillators)

27 Sep 2023

Bonsai OS combines four oscillators (RSI, CCI, Stochastic, MACD) in one interface. Features divergence detection, color-intensity, and insights into divergences. Assists traders in spotting potential pivot points.

═════════════════════════════════════════════════════════════════════════

🌳 Bonsai OS 🌳 Advanced Oscillator Suite

📘 Overview

Bonsai OS is a tool tailored for traders focusing on reversal strategies and those keen on identifying market divergences. Combining multiple oscillators into one unified interface, it aids traders in pinpointing potential pivot reversal points.

📌 Algorithm Logic

 • Multi-Oscillator Integration: Bonsai OS calculates and integrates the values from four standard oscillators: RSI, CCI, Stochastic, and MACD. Each oscillator's value is derived from its respective mathematical formula, analyzing historical data points.
 • Divergence Detection: The tool runs a series of comparisons between price action and oscillator values. When discrepancies (divergences) are observed, they are highlighted, suggesting potential market reversals.
 • Price Strength Visualization: A gradient background that is determined by an average of the oscillator values in relation to their historical norms, thereby providing a visual cue about the current price strength, whether it is strong or weak.
 • Alerts: Users can set up notifications based on specific divergence insights. Once set criteria are met, alerts are triggered.

🎯 Purpose

 • For Professionals: Bonsai OS offers integrated oscillator readings, allowing a more in-depth market analysis.
 • For Beginners: Simplified readings and visual cues make it easier for newcomers to understand oscillator indicators and market conditions.

🛠 Distinctive Elements

 • Oscillator Fusion: Bonsai OS goes beyond just grouping oscillators. It looks for matching divergences across them, aiming to find stronger signals for market reversals.
 • Divergence Indicators: Bonsai OS identifies divergence patterns between price trends and oscillator readings, highlighting their intensity with color variations.
 • Insight into Failed Divergences: Recognizing not all divergences lead to reversals, Bonsai OS provides markers for potential false signals, helping traders exercise caution and fine-tune their strategies.

Getting Bullish/Bearish and Divergences


📊 Features

 • Data Source Customization: Users have the flexibility to choose between default data inputs or adjust to their preferred price points (like High & Low).
 • Combined Divergence Signals: Beyond individual oscillator divergences, Bonsai OS identifies instances when several oscillators indicate divergence at the same time.
 • Adaptable Outputs: Outputs like 'Bullish Divergence ▲', 'Getting Bullish ▲', 'Getting Bearish ▼' and 'Bearish Divergence ▼' are plotted as non-displayable 1 or 0 for seamless integration into other custom indicators, ensuring a harmonious integration.

Here's an example of a custom indicator that can be used for inputting data from external sources:

Pine Script®

Bonsai OS as External Source


🎛 How To Use Bonsai OS

1. Select the desired oscillator.
2. Monitor the color changes for market condition insights.
3. Look out for divergence markers to anticipate potential market shifts.
4. If required, set up alerts for real-time updates.

Indicator Settings Menu


📜 Feedback & Continual Development

We welcome your feedback. It's essential for the continuous improvement of Bonsai OS and to better serve the TradingView community.

❗️ Disclaimer

Trading involves risks. Bonsai OS aims to provide an analytical tool to support traders, but it's essential to complement its insights with other research. Always seek advice from financial professionals and trade responsibly.

20 Nov 2023

Nota Keluaran

• Updated output plot labels to "🌳 Bullish Divergence ▲", "🌳 Bearish Divergence ▼", "🌳 Getting Bullish ▲", "🌳 Getting Bearish ▼".