SNDTOsc - MTF

SNDTOsc helps identify when a market is in a good position to identify an entry.

This indicator requires a bit of manual judgement and tweaking for specific markets. In a higher volatility market, use 1 to catch the quicker price movements. In low volatility, use 4. I normally flip between 1 and 2 with an occasional 3 or 4 in the higher timeframe if I need to determine the trend.

Pay attention to the color and position of the columns because they measure the higher timeframe's current bullish/bearish strength:

Lime - Bullish zone
Green - Potentially exhausted bullish zone
Pink - Bearish zone
Maroon - Potentially exhausted bearish zone


A few simple rules to filter out hasty entries:

HTF (Higher timeframe) - Lime
Look for a long entry upon a bullish crossover (red above blue) as long as the crossover is below the overbought zone.

HTF - Green
No new long positions. Look for short position upon bearish crossover.

HTF - Pink
Look for a short entry upon a bearish crossover as long as crossover is above oversold zone

HTF - Red
No new short positions. Look for long position upon bullish crossover

Versionsinformation:

Updated shading.

Versionsinformation:

Changed a bit under the hood and made the indicator easier to see in dark mode.

Versionsinformation:

Updated colours

Versionsinformation:

Updated logic to show an up or down arrow whenever three significant timeframes align in its direction