Overall Score of Oscillators (Oversold / Overbought)
altFINS rating calculation based on RSI (9), RSI (14), RSI (25), Stochastic%K (14,3,3) Stochastic RSI Fast (3,3,14,14), Commodity Channel Index (20) and Williams Percentage Range (14). These oscillator indicators are also called banded oscillators because they range from 0 to 100, except CCI. We assign scores to each of these indicators and calculate a total score which can rank from -16 to -10 (very oversold), -9 to -5 (oversold), -4 to +4 (Neutral), +5 to +9 (overbought) and +10 to +16 (very overbought). Traders tend to Buy oversold and Sell overbought situations. However, oversold and overbought situations can persist for a long time. In an uptrend, an overbought state is a positive indication of the trend strength.
Trend traders can look for a strong uptrend and buy on a pullback (oversold oscillators reading), and vice versa. So you can combine this indicator with trend indicators (Price/SMA cross, SMA/SMA cross, etc.) to build your custom filter.