Based on "Willy" Indicator.
Red = overbought, Green = oversold, White = Crossover
Added MACD for visualisation of crossovers. May also be usefull for spotting divergences.

Happy about any feedback = ]
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study(title="Willy Signals", shorttitle="WillySIG_[MTG]")
length = input(21, minval=1)
upper = highest(length)
lower = lowest(length)
out = (close - lower) / (upper - lower)
src = out, len = input(13, minval=1, title="Length")
out2 = ema(out,1)
out3 = ema(out,12)
macd = ema(out2-out3,1)
crs = cross(out2,out3) and ((out3 >= 0.75) or (out3 <= 0.25))?((out3 <= 0.25)?lowest(macd,100):highest(macd,100)):na
sig1 = (out3 <= 0.25)?lowest(macd,100):na
sig2 = (out3 >= 0.75)?highest(macd,100):na

plot(sig1, color=lime, style = area,transp=50)
plot(sig2, color=red, style = area, transp=50)
plot(crs, color=white, style = area, transp=64, linewidth=1)
plot(wma(macd,3), title="EMA", color=aqua, transp=72, style = area, linewidth=2)
hline(0,color=teal)
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