Indicator Oversold [IOS]

Descripton

Summary:
This analyst script is used to determine whether an underlying indicator is oversold.

Values:
1. 0 - Not oversold.
2. 100 - Oversold.

Variables

Type	Identifier	Description
Integer	_analyzedIndicatorKey	Use for the indicator key to analyze for an oversold condition.
Number	_oversoldValue	Use for the minimum value below which the underlying indicator is considered oversold. [Default 20]

OnAnalysis

Function Parameters
Type	Identifier	Description
Integer	barIndex
Implementation
' Check for an oversold condition. If (IndicatorValue(_analyzedIndicatorKey, barIndex) < _oversoldValue) Then Return 100 End If Return 0

OnInitialize

Function Parameters
Type	Identifier	Description
Indicator	analyzedIndicatorKey	Use for the indicator key to analyze for an oversold condition.
Number	oversoldValue	Use for the minimum value below which the underlying indicator is considered oversold. [Default 20]
Implementation
' Assign the script parameters to script variables. _analyzedIndicatorKey = analyzedIndicatorKey _oversoldValue = oversoldValue