SagaView

SagaView is an author's analytical tool where the visual part consists of zones and levels (these parts are described in more detail below).

This indicator allows you to determine whether the market is oversold or overbought, and use the levels of the indicator to determine the probability of price reversal.

SagaView Zones

SagaView zones show areas of the market that are overbought/oversold. These zones are determined on the basis of the closing prices of the previous bars. SagaView zones may differ in size (number of candles included in the shaded area). The larger the size of the zone, the higher the probability of an imminent price reversal. Also, in the case of a smaller zone size, it can indicate the emergence of a strong movement. SagaView levels are used to determine the potential of movement and probability of reversal.

SagaView levels

SagaView levels are built from local extremums. These levels are potential levels of resistance or support. A large number of crossings of the level by the price usually reduces its importance. SagaView levels display a line on the chart only until it is crossed by price to filter a weak levels. Also, a level can lose its strength over time. But in SagaView you can filter out levels that are too old (even if they have not been crossed by price).

Using SagaView

Thus, the SagaView zones make it possible to determine the trending areas of the market (a number of bars in the shaded area), and the SagaView levels make it possible to assess the probability of a price reversal in these areas.

Disclamer: remember that financial markets carry risks and no trading tool will guarantee you earnings.
Only your cold mind and knowledge.