RSI OB/OS Strategy Analyzer

█ OVERVIEW

The RSI OB/OS Strategy Analyzer is a comprehensive trading tool designed to help traders identify and evaluate overbought/oversold reversal opportunities using the Relative Strength Index (RSI). It provides visual signals, performance metrics, and a detailed table to analyze the effectiveness of RSI-based strategies over a user-defined lookback period.

█ KEY FEATURES
RSI Calculation

• Calculates RSI with customizable period (default 14)
  
• Plots dynamic overbought (70) and oversold (30) levels
  
• Adds background coloring for OB/OS regions
  

Reversal Signals

• Identifies signals based on RSI crossing OB/OS levels
  
• Two entry strategies available:
  
  • Revert Cross: Triggers when RSI exits OB/OS zone
    
  • Cross Threshold: Triggers when RSI enters OB/OS zone
    

Trade Direction

• Users can select a trade bias:
  
  • Long: Focuses on oversold reversals (bullish signals)
    
  • Short: Focuses on overbought reversals (bearish signals)
    

Performance Metrics

• Calculates three key statistics for each lookback period:
  Win Rate: Percentage of profitable trades
  Mean Return: Average return across all trades
  Median Return: Median return across all trades
  
• Metrics calculated as percentage changes from entry price
  

Visual Signals

• Dual-layer signal display:
  BUY: Green triangles + text labels below price
  SELL: Red triangles + text labels above price
  
• Semi-transparent background highlighting in OB/OS zones
  

Performance Table

• Interactive table showing metrics for each lookback period
  
• Color-coded visualization:
  
  • Win Rate: Gradient from red (low) to green (high)
    
  • Returns: Green for positive, red for negative
    

Time Filtering

• Users can define a specific time window for the indicator to analyze trades, ensuring that performance metrics are calculated only for the desired period.
  

Customizable Display

• Adjustable table font sizes: Auto/Small/Normal/Large
  
• Toggle option for table visibility
  

█ PURPOSE
The RSI OB/OS Strategy Analyzer helps traders:

• Identify mean-reversion opportunities through RSI extremes
  
• Backtest entry strategy effectiveness across multiple time horizons
  
• Optimize trade timing through visual historical performance data
  
• Quickly assess strategy robustness with color-coded metrics
  

█ IDEAL USERS

• Counter-Trend Traders: Looking to capitalize on RSI extremes
  
• Systematic Traders: Needing quantitative strategy validation
  
• Educational Users: Studying RSI behavior in different market conditions
  
• Multi-Timeframe Analysts: Interested in forward returns analysis