Hybrid Overbought/Oversold Detec…: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.

Overview

Hybrid Overbought/Oversold Detector calculates aggregate momentum and volume conditions to identify overbought and oversold market states. Users can customize indicator selection, input sources, custom timeframes or symbols, and threshold levels. The script triggers visual background color highlights for call and put signals when threshold breaches occur. Individual underlying indicator lines and custom level labels can also be displayed or hidden.

Multi-indicator hybrid overbought and oversold detection
Selectable component technicals including %B, CCI, CMF, and CMO
Multi-timeframe and multi-symbol input settings
Background color highlights for call and put signals

Details

Published by

matlaenousse on GitHub

Code credit

informanerd, as written in the script's header

Type

Indicator, Pine Script v5

Draws

Separate pane below the chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

root/raw_indicators/HybridOverboughtOversoldDetector/HybridOverboughtOversoldDetector.pine

Repository

github.com/matlaenousse/-PineScript--Strategy-indicator. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Calculations Time Frame	`timeframe`		`tf`
Ticker ID	`symbol`		`ticker`
Source	`source`	`close`	`src`
Length	`int`	`14`	`len`
Hybrid Overbought/Oversold Graph →	`color`	`color.black`	`hybColor`
Hide	`bool`	`false`	`hideHyb`
Alert Levels → OB:	`int`	`100`	`obManual`
OS:	`int`	`0`	`osManual`
Alerts Will Be Triggered:	`string`	`When A Bar Closes While Passed An OB/OS Level`	`alertFreq`
Background Color Signals →	`bool`	`true`	`showSignal`
Call:	`color`	`color.teal`	`callColor`
Put:	`color`	`color.maroon`	`putColor`

Show all 40 settings

Setting	Type	Default	Variable
Color Weaker Signals →	`bool`	`true`	`weakSignal`
Call:	`color`	`color.green`	`callWeakColor`
Put:	`color`	`color.red`	`putWeakColor`
Draw OB/OS Levels	`bool`	`true`	`drawOBS`
Show Level Labels	`bool`	`true`	`showOBSLabels`
Bollinger Bands %B	`bool`	`true`	`useB`
→	`color`	`color.gray`	`bColor`
Hide	`bool`	`true`	`hideB`
Levels → OB:	`int`	`100`	`bOBManual`
OS:	`int`	`0`	`bOSManual`
Commodity Channel Index (CCI)	`bool`	`true`	`useCci`
→	`color`	`color.aqua`	`cciColor`
Hide	`bool`	`true`	`hideCci`
Levels → OB:	`int`	`100`	`cciOBManual`
OS:	`int`	`0`	`cciOSManual`
Chaikin Money Flow (CMF)	`bool`	`true`	`useCmf`
→	`color`	`color.blue`	`cmfColor`
Hide	`bool`	`true`	`hideCmf`
Levels → OB:	`int`	`100`	`cmfOBManual`
OS:	`int`	`0`	`cmfOSManual`
Chande Momentum Oscillator (CMO)	`bool`	`true`	`useCmo`
→	`color`	`color.navy`	`cmoColor`
Hide	`bool`	`true`	`hideCmo`
Levels → OB:	`int`	`100`	`cmoOBManual`
OS:	`int`	`0`	`cmoOSManual`
Disparity Index (DIX)	`bool`	`true`	`useDix`
→	`color`	`color.teal`	`dixColor`
Hide	`bool`	`true`	`hideDix`

Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.

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