This indicator plots trade entry and exit signals on the price chart by combining Bollinger Bands with optional filter conditions. It calculates standard Bollinger Bands along with RSI, Aroon, and moving average filters. Reversal signals trigger when price bre
Indicator · Pine Script v6 · On the chart
OCI Ollie Conviction Index
Combines RSI, Stochastic RSI, MACD histogram and Bollinger Band position into one weighted score from -5 to +5 that gauges whether price looks stretched high or low.
GitHub stars1on the repository
Pine versionv6current
Lines of code214
Settings33inputs
LicenceNone stated
Last update7 weeks ago7 Sep 2026
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
An optional MFI vote is off by default. Settings cover indicator lengths, sensitivity presets, dead zones, vote weights, zone thresholds and EMA smoothing. The score appears as a heat bar on the right side of the price chart, with alerts that can wait for bar close. It is an overextension gauge, not a valuation model or trade system.
- Weighted RSI, StochRSI, MACD and Bollinger votes
- Score scaled from -5 to +5
- Heat bar drawn on the price chart
- Sensitivity presets and adjustable weights
- Alerts confirmed at bar close
Details
Published by
ollieLiu1988 on GitHub
Type
Draws
On the price 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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Price source | source | close | sourceInput |
| RSI length | int | 14 | rsiLengthInput |
| Stoch RSI length | int | 14 | stochLengthInput |
| Stoch RSI smoothing | int | 3 | stochSmoothInput |
| MACD fast EMA | int | 12 | macdFastInput |
| MACD slow EMA | int | 26 | macdSlowInput |
| MACD signal EMA | int | 9 | macdSignalInput |
| MACD histogram volatility window | int | 100 | macdVolatilityInput |
| Bollinger length | int | 20 | bbLengthInput |
| Bollinger standard deviations | float | 2.0 | bbMultiplierInput |
| Optional MFI length | int | 14 | mfiLengthInput |
| Final OCI EMA smoothing | int | 3 | smoothLengthInput |
Show all 33 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Sensitivity | string | Balanced | sensitivityPresetInput |
| Custom sensitivity multiplier | float | 1.0 | customSensitivityInput |
| RSI / Stoch RSI / MFI dead zone | float | 5.0 | oscillatorDeadZoneInput |
| Oscillator distance at full vote | float | 30.0 | oscillatorExtremeInput |
| MACD volatility-ratio dead zone | float | 0.10 | macdDeadZoneInput |
| MACD volatility ratio at full vote | float | 2.0 | macdExtremeInput |
| Bollinger-position dead zone | float | 0.05 | bbDeadZoneInput |
| Bollinger position at full vote | float | 1.0 | bbExtremeInput |
| RSI vote | float | 25.0 | weightRsiInput |
| Stoch RSI vote | float | 25.0 | weightStochInput |
| MACD histogram vote | float | 25.0 | weightMacdInput |
| Bollinger position vote | float | 25.0 | weightBbInput |
| Optional MFI volume vote | float | 0.0 | weightMfiInput |
| Too-high / too-low threshold | float | 2.0 | zoneThresholdInput |
| Extreme threshold | float | 4.0 | extremeThresholdInput |
| Confirm alerts at bar close | bool | true | confirmAlertsInput |
| Show OCI heat bar on price chart | bool | true | showHeatBarInput |
| Heat bar height (% of chart) | float | 70.0 | heatBarHeightInput |
| Too high | color | #FF3D4A | tooHighColorInput |
| Neutral | color | #F5C400 | neutralColorInput |
| Too low | color | #00D084 | tooLowColorInput |
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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