This script tries to estimate how inclined may retail traders be to open a position based on popular indicators RSI, Stochastic, Ichimoku, Bollinger Bands, MACD, and 200 EMA. Conditions are:
Plus values • RSI above 70 • %K above 70 or even • Conversion line above baseline and price above the cloud • High above the upper band • MACD above the signal line
Each condition gives 1 point if true or 2 points if it is also above 200 EMA
Minus values • RSI below 30 • %K below 30 or even • Conversion line below baseline and price below the cloud • Low below the upper band • MACD below the signal line
Each condition gives -1 point if true or -2 points if it is also below 200 EMA
I still consider the script as in development, so if you have some ideas on how it could be improved or traded, let me know.