Trend Tide Oscillator [UAlgo]

🔶 Description:

The "Trend Tide Oscillator " is a technical analysis tool designed to identify potential trend reversals and overbought/oversold conditions in the market. It calculates an oscillator based on the Commodity Channel Index (CCI) and then applies smoothing techniques to provide a clearer view of market momentum.

🔶 Key Features:

Oscillator Calculation : The indicator calculates an oscillator based on the Commodity Channel Index (CCI), which is a momentum-based oscillator used to identify overbought and oversold conditions.

Smoothing : Smoothing techniques are applied to the oscillator to reduce noise and provide a clearer view of market momentum. This helps traders in identifying trends more effectively.

Support and Resistance Zones : The indicator plots support and resistance zones based on the highest and lowest values of the oscillator over a specified lookback (default 50) period. These zones can help traders identify potential areas of price reversal. The indicator considers volatility when plotting the support and resistance zones. This aims to create more adaptable levels that account for fluctuating market conditions.

Visualization : The indicator visually represents overbought and oversold conditions with shapes (⚠️), aiding traders in quickly identifying potential entry or exit points.

Customization : Users can adjust parameters such as oscillator length, smoothing, and overbought/oversold levels, support and resistance lookbacks according to their trading preferences.

🔶 Disclaimer :

This indicator is provided for informational and educational purposes only and should not be considered as financial advice. Trading in the financial markets involves risk, and users should conduct their own research and analysis before making any investment decisions.

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