OPEN-SOURCE SCRIPT
Updated Multi Overbought and Oversold Indicator
What It Does
Reading RSI in one panel, Stochastic RSI in another, Williams %R and CCI in two more — and then trying to make sense of them all at once is slow. This indicator solves that by combining all four into a single composite score on a clean 0–100 scale.
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How It Works
Each indicator uses a different scale, so before averaging they are all normalised to 0–100:
The final score is a simple equal-weight average of all four normalised values.
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Why These Four
Each oscillator measures overbought/oversold from a different angle:
Four different methods agreeing on the same condition is a much stronger signal than any one of them alone i guess :|
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Settings
All defaults have been tuned for custom use.
Every setting is fully adjustable in the inputs panel.
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Score Zones
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Visual Features
Also you can see all indicators independent lines by turning it on from the settings panel.
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How to Use
This is a confluence tool, not a standalone signal. Best used alongside price action and trend context:
Works on all assets and all timeframes. Lower timeframes will produce more frequent extreme readings.
Also You can see all indicators independent lines by turning it on from the settings panel.
Reading RSI in one panel, Stochastic RSI in another, Williams %R and CCI in two more — and then trying to make sense of them all at once is slow. This indicator solves that by combining all four into a single composite score on a clean 0–100 scale.
- Score near 100 = all four indicators agree the market is overbought
- Score near 0 = all four indicators agree the market is oversold
- Score near 50 = neutral, no strong lean in either direction
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How It Works
Each indicator uses a different scale, so before averaging they are all normalised to 0–100:
- RSI — already 0–100, used directly
- StochRSI %K — already 0–100, used directly
- Williams %R — runs -100 to 0, shifted by adding 100 to map it to 0–100
- CCI — has no fixed bounds, clamped to a ±300 working range then scaled to 0–100
The final score is a simple equal-weight average of all four normalised values.
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Why These Four
Each oscillator measures overbought/oversold from a different angle:
- RSI — ratio of average gains vs losses (momentum)
- StochRSI — applies stochastic formula to RSI, making it more sensitive and faster
- Williams %R — compares close to the highest high over the period (range-based)
- CCI — measures how far price deviates from its statistical mean (deviation-based)
Four different methods agreeing on the same condition is a much stronger signal than any one of them alone i guess :|
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Settings
All defaults have been tuned for custom use.
Every setting is fully adjustable in the inputs panel.
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Score Zones
80 – 100 | Extreme Overbought | Red
70 – 80 | Overbought | Amber
30 – 70 | Neutral | Green
20 – 30 | Oversold | Blue
0 – 20 | Extreme Oversold | Purple
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Visual Features
- Score line — colour changes dynamically based on the current zone
- Zone fills — subtle shading highlights the Extreme OB and Extreme OS areas
- Score area fill — area between the score line and midline (50) is filled red above, purple below
- Score label — floating value label updates on each bar at the chart's right edge
- Extreme dots — small circles appear on the score line at Extreme OB and OS readings
- Background tint — the pane background subtly reflects the current zone
- Dashboard table — live table in the top-right shows each indicator's raw value and individual OB/OS status, plus the composite score and zone label
- Individual lines — optionally show the four normalised component lines to see which indicator is driving the score
Also you can see all indicators independent lines by turning it on from the settings panel.
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How to Use
This is a confluence tool, not a standalone signal. Best used alongside price action and trend context:
- Reversals — wait for extreme readings, then look for price action confirmation before acting
- Trend pullbacks — in an uptrend, oversold score readings can time re-entry
- Divergence — if price makes a new high but the score does not, momentum is weakening
- Confluence check — use the individual lines or table to verify all four agree, not just the average
Works on all assets and all timeframes. Lower timeframes will produce more frequent extreme readings.
Also You can see all indicators independent lines by turning it on from the settings panel.
Release Notes
Fixes :Fixed label stacking and overlapping
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.