3 Oscillator (RSI + Stochastics + MFI) with over bought/sold

This is a combined oscillator indicator which includes:

• Relative Strength Index ( RSI )
  
• Money Flow Index ( MFI )
  
• Stochastic or StochasticRSI
  

In addition there are some advanced features including:

• Custom time frame (Have the indicator running 5 minute candles while on a 1 hour chart)
  
• Highlight Overbought/Oversold (The intensity of highlight changes when it is 5% below the threshold to 5% above the threshold)
  
• Moving average trend for highlights (This will prevent the threshold-5 highlight from showing in a uptrend to reduce false signals)
  

It is important to know that the highlight feature is not designed as a buy/sell signal, it is only there as and oversold/overbought indicator to suggest when a trend change may be approaching.
The highlights are dependent on all three oscillators being above or below their thresholds respectively, this is to provide confluence that the market is indeed oversold and not just a single indicator.

發布通知:

Updated some formatting and titles, no functional changes have been made

發布通知:

I finally got some time to clean up this script quite a lot and make it more customization. The core functionality has not changed however it is now possible to mix and match.
The changes are as follows:

• The Inputs list has been reorganized to be tidier and more relevant.
  
• Checkbox selectors for Stoch and MA types have been replaced with drop downs
  
• The 3 indicators can be disabled individually (effecting the plot and highlight functions)
  
• Highlights can be disabled
  
• The offset for highlight strength is now customization (previously was fixed at +- 5%)
  

Below are my future intentions, which are all open to discussion and I'm open to any other suggestions.
Future plans:

• Remove Stoch RSI Source and Stoch RSI Length inputs. (I have never changed these so the script may as well use the existing RSI)
  
• Add 1-2 more moving average/s to the MA Trend function (Currently MA gain with single ma. Could be MA spread or a combination of the two (my favorite))
  
• Add price divergence pointers and potentially buy/sell suggestions. (This could look too messy, slash it is already, but it is an option I am considering)
  

Please let me know your thoughts good or bad. I am often playing will private scripts and I'm keen to produce tools that can make all of our lives easier.

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Minor changes

Title: "3" replaced by "Multiple" as I plan on adding a couple of other oscillators
MATrend: Bug fix. The script was using EMA when SMA was selected and visa-versa

發布通知:

Bug fix : Highlighting when low strength would display as medium strength if one of the oscillators (i.e. stochastic) crossed the high threshold. This has been the case since I added the ability to turn off an oscillator. I've had to rethink how that logic works and I am happy to say that this is now functioning as originally intended.

The next update will hopefully be a feature enhancement as I want to add some options for the MA trend (Using three MAs instead of one to determine the trend strength) and additional oscillator/s) I already have some of the logic worked out but would like to do some additional testing to avoid embarrassing bugs like the last two.