Fast Swing Oscillator
A fast, smooth swing oscillator scored in sigmas, so oversold actually means oversold.
Own pane · Any timeframe · Any symbol
The Fast Swing Oscillator smooths price into a swing line and scores it in standard deviations, so oversold means statistically oversold rather than below an arbitrary 30. It reacts faster than a standard RSI and produces far fewer of the flat, pinned readings that make oscillators useless in a strong trend.
What it shows
- One smooth line, scored in standard deviations instead of arbitrary 0-100 bounds.
- Zones at +1 (overbought), -1 (oversold), -1.5 (deep) and -2 (capitulation).
- Markers when the line turns up out of oversold or capitulation, and down out of overbought.
How it reads the market
Classic oscillators use fixed bounds, so half the time 'oversold' just means 'going down'. Normalizing a smoothed momentum reading by its own recent deviation makes the zones self-calibrating: minus 2 is rare on every symbol, by construction.
Settings
| Setting | Default | What it does |
|---|---|---|
| Momentum length | 9 | The core lookback of the oscillator. |
| Smoothing | 5 | Hull smoothing for a fast line without the whipsaw. |
| Z-score window | 100 bars | The lookback that defines each symbol's own 'normal'. |
Everything is an input: colors, thresholds and time windows adjust from the indicator's settings panel, no code needed.
Built-in alerts
- Turn up out of oversold
- Turn up out of capitulation
- Turn down out of overbought
Set them once from TradingView's alert dialog and get notified on your phone, no chart-watching required.
Comes with the membership
The whole indicator suite is included with the paid plan, $20/month or $200/year. Subscribe, submit your TradingView username, and the scripts land in your TradingView library.
Get full accessHow to add it to your chart
- Request access above with your TradingView username (one request covers the whole suite).
- We grant it on TradingView, usually within 24 hours; TradingView notifies you.
- On your chart, open Indicators → Invite-only scripts and add Fast Swing Oscillator.
When to use it, and when not to
It earns its place when
- You time entries inside an established trend and want the pullback measured, not eyeballed.
- You keep getting fooled by oscillators pinned at oversold for weeks.
- You want one oscillator that reads the same way across instruments and timeframes.
Leave it off the chart when
- You are trying to call a top or a bottom with it. A stretched oscillator in a strong trend stays stretched.
- The instrument is illiquid. Sigma scoring on noisy data produces confident nonsense.
- You already trade a trend filter and want confirmation. Two indicators reading the same input do not confirm each other.
Common questions
How is this different from RSI?
RSI compares average gains to average losses on a fixed 0-100 scale, so 30 means the same thing in every market. This scores the swing against its own recent distribution, so the threshold adapts. In a low-volatility grind, a move RSI calls neutral can be genuinely stretched, and this shows it.
What does a sigma reading of -2 mean?
The current swing sits two standard deviations below its recent mean. Roughly, that is the bottom 2 to 3 percent of readings for this instrument lately. It is unusual. Unusual is not the same as about to reverse.
What lookback should I use?
The default suits swing timeframes. Shorten it and the oscillator responds to every wiggle; lengthen it and it describes the trend rather than the pullback. Change one thing at a time and watch what the signal count does.
Can I use it as a standalone entry?
No, and neither can any oscillator. It measures stretch within a move. Something else has to tell you which way the move is going, which is what the Regime Filter and the HMA Trend Filter are for.