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RSI OB/OS Strategy Analyzer

█ OVERVIEW
The RSI OB/OS Strategy Analyzer is a comprehensive trading tool designed to help traders identify and evaluate overbought/oversold reversal opportunities using the Relative Strength Index (RSI). It provides visual signals, performance metrics, and a detailed table to analyze the effectiveness of RSI-based strategies over a user-defined lookback period.
█ KEY FEATURES
RSI Calculation
Reversal Signals
Trade Direction
Performance Metrics
Visual Signals
Performance Table
Time Filtering
Customizable Display
█ PURPOSE
The RSI OB/OS Strategy Analyzer helps traders:
█ IDEAL USERS
The RSI OB/OS Strategy Analyzer is a comprehensive trading tool designed to help traders identify and evaluate overbought/oversold reversal opportunities using the Relative Strength Index (RSI). It provides visual signals, performance metrics, and a detailed table to analyze the effectiveness of RSI-based strategies over a user-defined lookback period.
█ KEY FEATURES
RSI Calculation
- Calculates RSI with customizable period (default 14)
- Plots dynamic overbought (70) and oversold (30) levels
- Adds background coloring for OB/OS regions
Reversal Signals
- Identifies signals based on RSI crossing OB/OS levels
- Two entry strategies available:
- Revert Cross: Triggers when RSI exits OB/OS zone
- Cross Threshold: Triggers when RSI enters OB/OS zone
- Revert Cross: Triggers when RSI exits OB/OS zone
Trade Direction
- Users can select a trade bias:
- Long: Focuses on oversold reversals (bullish signals)
- Short: Focuses on overbought reversals (bearish signals)
- Long: Focuses on oversold reversals (bullish signals)
Performance Metrics
- Calculates three key statistics for each lookback period:
Win Rate: Percentage of profitable trades
Mean Return: Average return across all trades
Median Return: Median return across all trades
- Metrics calculated as percentage changes from entry price
Visual Signals
- Dual-layer signal display:
BUY: Green triangles + text labels below price
SELL: Red triangles + text labels above price
- Semi-transparent background highlighting in OB/OS zones
Performance Table
- Interactive table showing metrics for each lookback period
- Color-coded visualization:
- Win Rate: Gradient from red (low) to green (high)
- Returns: Green for positive, red for negative
- Win Rate: Gradient from red (low) to green (high)
Time Filtering
- Users can define a specific time window for the indicator to analyze trades, ensuring that performance metrics are calculated only for the desired period.
Customizable Display
- Adjustable table font sizes: Auto/Small/Normal/Large
- Toggle option for table visibility
█ PURPOSE
The RSI OB/OS Strategy Analyzer helps traders:
- Identify mean-reversion opportunities through RSI extremes
- Backtest entry strategy effectiveness across multiple time horizons
- Optimize trade timing through visual historical performance data
- Quickly assess strategy robustness with color-coded metrics
█ IDEAL USERS
- Counter-Trend Traders: Looking to capitalize on RSI extremes
- Systematic Traders: Needing quantitative strategy validation
- Educational Users: Studying RSI behavior in different market conditions
- Multi-Timeframe Analysts: Interested in forward returns analysis
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。