OPEN-SOURCE SCRIPT
Stoch + RSI Super Buy Spot

What does this indicator do?
This indicator helps you spot the moment when a price is likely to start bouncing,
before the bounce becomes obvious on the chart.
Most buy signals appear after price has already moved up.
This indicator is designed to show a signal just before the move begins.
What kind of situation does it look for?
The indicator looks for three conditions at the same time.
① Price has fallen a lot
The Stochastic line is near the bottom (0–20).
This means the market has recently dropped significantly.
② The market is weak, but not broken
The RSI line stays between 40 and 50.
This suggests selling pressure exists, but strength is still holding.
③ Downward movement starts to slow and turn up
The Stochastic line stops falling
and starts to move upward, even slightly.
👉 When all three happen together, the indicator marks a BUY timing.
Why does this signal appear earlier than others?
Many indicators wait for:
line crossovers, or
levels to be clearly broken
That often means the signal appears after the price has already risen.
This indicator:
does not wait for crossovers
instead, it detects the first change in direction
So the signal appears one step earlier.
How should you use this BUY signal?
This BUY mark means:
“The downtrend may be ending, and a rebound could be starting.”
It is best used as:
a preparation signal, or
a buy zone alert,
not as a guaranteed entry on its own.
When does this indicator work best?
After a strong decline
Near support levels
During consolidation after a drop
It is especially useful for catching early rebounds.
One-sentence summary
“An indicator that highlights early signs of a rebound while the price is still low.”
This indicator helps you spot the moment when a price is likely to start bouncing,
before the bounce becomes obvious on the chart.
Most buy signals appear after price has already moved up.
This indicator is designed to show a signal just before the move begins.
What kind of situation does it look for?
The indicator looks for three conditions at the same time.
① Price has fallen a lot
The Stochastic line is near the bottom (0–20).
This means the market has recently dropped significantly.
② The market is weak, but not broken
The RSI line stays between 40 and 50.
This suggests selling pressure exists, but strength is still holding.
③ Downward movement starts to slow and turn up
The Stochastic line stops falling
and starts to move upward, even slightly.
👉 When all three happen together, the indicator marks a BUY timing.
Why does this signal appear earlier than others?
Many indicators wait for:
line crossovers, or
levels to be clearly broken
That often means the signal appears after the price has already risen.
This indicator:
does not wait for crossovers
instead, it detects the first change in direction
So the signal appears one step earlier.
How should you use this BUY signal?
This BUY mark means:
“The downtrend may be ending, and a rebound could be starting.”
It is best used as:
a preparation signal, or
a buy zone alert,
not as a guaranteed entry on its own.
When does this indicator work best?
After a strong decline
Near support levels
During consolidation after a drop
It is especially useful for catching early rebounds.
One-sentence summary
“An indicator that highlights early signs of a rebound while the price is still low.”
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.