The OS/OB 3 based on Standard Deviation
OS/OB stands for "OverBought/OverSold." It is an indicator designed to replace your standard oscillator. This indicator can show the oversold and overbought signals as well as the direction of the current trend.
The OSOB3 is a drastic improvement since the last version OSOB2 (explained here). We replaced the trend to a much smarter method that uses standard deviation to find the trend, and we also replaced the "corrected" MA with the mean value of the found standard deviation. The principle remains the same, i.e. having a real oversold/overbought state that is not affected by the ongoing trend.
To explain OS/OB better, consider the following illustration:
In addition to the last version now you have a much more reliable trend (orange line) that is less prone to be affected by the spikes in price, and also you have a deviation (red dotted line) that you can use as a reference relative to the oversold/overbought and the trend line.
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The full version contains fully customizeable parameters and full source code.
price of OSOB3 Full: US$ 30.00
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