Here are the TradingView indicators I made in PineScript. These are the indicators I use for live trading and they are actually quite helpful when used in a multi time frame layout.
Download My Custom Overbought/Oversold Indicator for Free!
Welcome to TradingOnramp.com, where I offer powerful trading tools to give you an edge in the market. As a special gift to traders, I’m offering my custom-built Overbought/Oversold Indicator for free! Built using Pine Script, this indicator allows you to spot potential market reversals with ease.
Features:
Fully Customizable: Modify inputs to match your personal trading style or market conditions.
Custom Overbought & Oversold Levels: Fine-tune your strategy with adjustable levels (from mild to extreme) to detect overbought or oversold conditions.
Stochastic Oscillator: Uses a 6-period %K and a 3-period %D for smooth, reliable signals.
Dynamic Colors: Visual cues make it easy to spot overbought (blue shades) and oversold (red shades) conditions.
//@version=5
indicator("Overbought ↘ Oversold ↗ TradingOnramp.com", overlay=false)
// Input parameters
kLength = input(6, "K Length")
dLength = input(3, "D Length")
overboughtLevel1 = input(75, "Overbought Level 1")
overboughtLevel2 = input(80, "Overbought Level 2")
overboughtLevel3 = input(85, "Overbought Level 3")
overboughtLevel4 = input(90, "Overbought Level 4")
oversoldLevel1 = input(25, "Oversold Level 1")
oversoldLevel2 = input(20, "Oversold Level 2")
oversoldLevel3 = input(15, "Oversold Level 3")
oversoldLevel4 = input(10, "Oversold Level 4")
// Calculate Stochastic Oscillator
highestHigh = ta.highest(high, kLength)
lowestLow = ta.lowest(low, kLength)
k = ta.stoch(close, highestHigh, lowestLow, kLength)
d = ta.sma(k, dLength)
// Define colors
greenColor = color.new(#49dc4e, 0)
redColor = color.new(#f84d4d, 0)
// Define overbought and oversold colors
overboughtColor1 = color.new(color.blue, 50)
overboughtColor2 = color.new(color.blue, 30)
overboughtColor3 = color.new(color.blue, 10)
overboughtColor4 = color.new(color.blue, 5)
oversoldColor1 = color.new(color.red, 50)
oversoldColor2 = color.new(color.red, 30)
oversoldColor3 = color.new(color.red, 10)
oversoldColor4 = color.new(color.red, 5)
hline(50, "Midline", color=color.new(color.gray, 50), linewidth=1)
// Plot K and D lines
plot(k, "", color=greenColor, linewidth=2)
plot(d, "", color=redColor, linewidth=2)
// Plot overbought and oversold lines
plot(overboughtLevel1, "", color=overboughtColor1, linewidth=1)
plot(overboughtLevel2, "", color=overboughtColor2, linewidth=2)
plot(overboughtLevel3, "", color=overboughtColor3, linewidth=4)
plot(overboughtLevel4, "", color=overboughtColor2, linewidth=2)
plot(oversoldLevel1, "", color=oversoldColor1, linewidth=1)
plot(oversoldLevel2, "", color=oversoldColor2, linewidth=2)
plot(oversoldLevel3, "", color=oversoldColor3, linewidth=4)
plot(oversoldLevel4, "", color=oversoldColor2, linewidth=2)
Here’s a demonstration of how I use this indicator in a 3 panel multi time frame layout:
When you see correlation across all time frames, it is a strong indication of market sentiment and movements.