Anderberg Signals

This indicator is designed to provide clear and visual buy and sell signals based on RSI reversals, with a focus on identifying when buyers or sellers re-enter the market after extended moves. It works on all markets (stocks, crypto, forex) and is optimized for both day trading and swing trading.

How the Indicator Works (Concepts and Logic)
The indicator is built on the Relative Strength Index (RSI), one of the most widely used tools for measuring momentum and overbought/oversold market conditions.

When RSI reaches certain key levels (signaling potential exhaustion), the script begins monitoring price reactions and the return of buying or selling pressure. It’s not simply reacting to RSI crossing below 30 or above 70; instead, it looks for signs that price action is shifting – indicating a potential reversal.

This approach helps filter out many of the false signals that often occur with standard RSI setups, especially in trending markets.

Signal Display
Green signal on the chart = Buy: RSI has been in oversold territory, and buyers are starting to take control again.
Red signal = Sell: RSI has been overbought, and sellers begin stepping back in.
Signals are plotted directly on the chart for easy visual recognition.
Can be used as entry or exit signals depending on your strategy.

Usage & Strategy
Timeframes: Works on all timeframes – from 5-minute scalping to 1D/1W swing setups.
Markets: Suitable for all markets, including stocks, crypto, commodities, and forex.
Strategy: Ideal for traders who prefer reversals or momentum shifts near key support/resistance levels.