Overbought/Oversold Indicator Strategy

[Apprentice]

Please Install OBOS Indicator.
viewtopic.php?f=17&t=3664

Open Long
On OB Level CrossOver
On Cental Level CrossOver
On OS Level CrossOver

Open Short
On OB Level CrossUnder
On Cental Level CrossUnder
On OS Level CrossUnder

Overbought Oversold Indicator Strategy.lua

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The Strategy was revised and updated on December 11, 2018.

[7510109079]

This is a great indicator in both rangebound and trending markets. I use a CCI as confirmation.

Currently alerts are triggered in relation to a numeric value between 100 and -100.

Could we have a 2nd type/choice of alert trigger incorporated?

i.e. an option of triggering an alert with a bar colour change (not numeric value)

Four Options in this category-
1. high risk long entry: when a bar changes from RED-to-BLUE
2. high risk short entry: when a bar changes from GREEN-to-BLUE
3. lower risk long entry: when a bar changes from BLUE-to-GREEN
4. lower risk short entry: when a bar changes from BLUE-to-RED

There would need to be an initial master choice selector to tell the program which alert trigger the user wants to use i.e. number trigger or colour trigger

[Apprentice]

Your request is added to the development list.

[7510109079]

[7510109079]

addendum to request:
App,

Maybe to prevent false signals, and therefore allowing more customisable signals to be generated, - instead of an 'either/or' scenario, you can combine the two types of signal so that an alert/trade is only made when both conditions are satisfied

i.e.
an alert/trade will only be actioned if the chosen colour change occurs above or below a specified numeric OBOS value

so the user specifies e.g.
- high risk long entry: when a bar changes from RED-to-BLUE
AND
- OBOS value of e.g. under -75 (user set value)

thx in advance

[7510109079]

just a real quickie while we are waiting for the above

Can you include user specifiable OBOS horiz lines in the GUI

...because Each time i open MScope my horiz lines i put there previously disappear. they also dont seem to being saved in a template either. Driving me nuts!

i.e.

[7510109079]

dont worry about this task now as I have someone else working on it, thx

[Hpraspernickel]

Bravo! This thing is beautiful!
Ben

[Andersan]

Read the "Let's develop together" articles in the "Indicator development" forum:

[lobogrande]

Was this strategy updated to trigger when the colors change?