A super oscillator with overbought and oversold detections.
Function
Represented by a white line, this Super Oscillator indicator identifies instruments that are overbought or oversold, which can be an important part of determining buy and sell points. An oversold market is a market that has fallen sharply and is expected to recover. In this indicator, gray candlesticks are used at the bottom to show that an oversold zone is near and a red candlestick shows that the overbought zone is ending. On the other hand, an overbought market has risen sharply and could be ripe for a decline. Yellow line dips are used to indicate overbought zones.