Recommended for longer timeframes.
Red color means potential oversold
Green color meas potential overbought
+ A 9P is a potential reversal
++ A 13 is a more potential reversal
+++ A 13P is a more potential reversal
++++ '9' setups or '13' countdowns across multiple timeframes are the best possible signal. e.g. a monthly 9, a weekly 9, a daily 9.
Current Risk Line can be used as Stop Loss
Support/Resistances can be used as Take profit
Based on the rules of Tom and the code of Andrew Hitchman
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.