OB/OS (Overbought/Oversold)

OvbOvs.efs  
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File Name: OvbOvs.efs

Description:
OB/OS (Overbought/Oversold)

Formula Parameters:

• Lookback : 10

Notes:

Download File:
OvbOvs.efs


EFS Code:

/*********************************
Provided By:  
    eSignal (Copyright c eSignal), a division of Interactive Data 
    Corporation. 2009. All rights reserved. This sample eSignal 
    Formula Script (EFS) is for educational purposes only and may be 
    modified and saved under a new file name.  eSignal is not responsible
    for the functionality once modified.  eSignal reserves the right 
    to modify and overwrite this EFS file with each new release.

Description:        
    OB/OS (Overbought/Oversold)    
    
Version:            1.0  04/22/2009
    
Formula Parameters:                     Default:
    Lookback                            10
    
Notes:

**********************************/
var fpArray = new Array();
var bInit = false;

function preMain() {
    setStudyTitle("Overbought/Oversold Indicator");
    setCursorLabelName("OBOS", 0);
    setDefaultBarFgColor(Color.red, 0);
    setPriceStudy(false);
    var x = 0;
    fpArray[x] = new FunctionParameter("Lookback", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setLowerLimit(1);
        setDefault(10);
    }
}

var xOvbOvs = null;

function main(Lookback) {
var nBarState = getBarState();
var nOvbOvs = 0;
    if (nBarState == BARSTATE_ALLBARS) {
        if (Lookback == null) Lookback = 10;
    }
    if (bInit == false) {
        xOvbOvs = efsInternal("Calc_OvbOvs", Lookback);
        bInit = true;
    }
    nOvbOvs = xOvbOvs.getValue(0);
    if (nOvbOvs == null) return;
    return nOvbOvs;
}

var bSecondInit = false;
var xOBOS = null;
var xClose = null;

function Calc_OvbOvs(Lookback) {
var nRes = 0;
    if (bSecondInit == false) {
        xOBOS = stochK(Lookback,1,1);
        xClose = close();
        bSecondInit = true;
    }
    if (xOBOS.getValue(0) == null) return;
	if(xClose.getValue(0) > xClose.getValue(-Lookback))
		nRes =  xOBOS.getValue(0)/100;
	else
		nRes = (100-xOBOS.getValue(0))/100;
    return nRes;
}