--- Update April 11, 2015 ----
I have merged in @TheMighyChicken's code (Thanks!) and added some more options. Updated source here - pastebin.com
- Switch between plain candles and colored oscillator candles.
- Switch between candles and plain oscillator view.
Version 1 -
Better Optimization on the levels.
Plotting only the important Highs and Lows
The extremes can be an important pivot levels.
Over and Undervalue - Gray (Column - close) (Histogram - High/Low)
Extreme conditions - Red
Extreme Alerts and Overlay will be added later.