SVGuss

That's why I use williams percent range and 1 and 99 as important levels, not 20 and 80 - that way it formally does not "stick" to the extremes (0 and 100) much... Which indicator you believe is more precise? I'm too busy now trading to look through all of the indies in this thread in detail - will do this during the weekend, but I guess it would be RSI? I'm using a scalping system that is counter trend (1 hour MA envelopes on 1min charts) as opposed to your system in the first post (if I understood it correctly). The scalping though is not really scalping but finding an entry with a VERY small stop and a relatively long-term perspective (>120 pips). As part of that, I am looking for a good overbought/oversold indie for the entry to make sure that if my (small, <10 pips) stop is eaten, it is at least eaten with a reason.

Nice work mate, thanks. Never used ADX, will look into it now. And thanks for all the indies. Just my 5 cents - I use another way of determining overbought/sold - WPR (which is, basically,stochastic), and when it is higher than -1 or lower than -99 I got a candle painted. It's pretty good for catching reversals - at least on range bars that i use in addition to 1 min scalping chart.