OPEN-SOURCE SCRIPT
Exhaustion Table [SpiritualHealer117]
A simple indicator in a table format, is effective for determining when an individual stock or cryptocurrency is oversold or overbought.
Using the indicator
In the column "2σ", up arrows indicate that the asset is very overbought, down arrows indicate that an asset is very oversold, and an equals sign indicates that the indicator is neutral.
In the column "σ", up arrows indicate that the asset is overbought, down arrows indicate that an asset is oversold, and an equals sign indicates that the indicator is neutral.
What indicator is
The indicator shows the exhaustion (percentage gap between the closing price and a moving average) at 5 given lengths, 15, 30, 50, 100, and 300. It compares that to two thresholds for exhaustion: one standard deviation out and one two standard deviations out.
Using the indicator
In the column "2σ", up arrows indicate that the asset is very overbought, down arrows indicate that an asset is very oversold, and an equals sign indicates that the indicator is neutral.
In the column "σ", up arrows indicate that the asset is overbought, down arrows indicate that an asset is oversold, and an equals sign indicates that the indicator is neutral.
What indicator is
The indicator shows the exhaustion (percentage gap between the closing price and a moving average) at 5 given lengths, 15, 30, 50, 100, and 300. It compares that to two thresholds for exhaustion: one standard deviation out and one two standard deviations out.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.