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lonew0lf

Over Sold Over Bought

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Is it possible to replicate the functions of the paintbarfactory ob/os indicator pictured below Specifically, i'm looking to use the stochrsi to replicate the 3 levels of warning:

 

Overbought (>=80) - indicator line turns red. oversold (<=80) - indicator line turns green.

White dots - gives you a sense of market direction.

Yellow dots - warn you for an over bought/over sold condition.

Red & green dots appear - the market is under extremely over bought or over sold condition.

 

input: 

RSILength(9),
StochLength(18),
KLength(6),
DLength(3),
oversold(20),
overbought(80),
overscolor(white),
overbcolor(white);

Vars: 
DToscK(0), 
DToscD(0);

value1 = FastKCustomEasy(RSI(C, RSILength),StochLength);
DToscK =  average(value1,KLength);
DToscD = average(DToscK,DLength);

plot1(DToscK,"%K" );
plot2(DToscD,"%D" );
plot3( overbought, "OverBot" ) ;
plot4( oversold, "OverSld" ) ;

condition1 = value1 crosses over oversold ;
if condition1 then
Alert( "Indicator exiting oversold zone" )
else 
begin 
condition1 = value1 crosses under overbought ;
if condition1 then
Alert( "Indicator exiting overbought zone" ) ;
end;



oFastK(0),
oFastD(0),
oSlowK(0),
oSlowD(0),

sample1.thumb.jpg.dd849a237154a7860a0562ad7d0af172.jpg

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