Added new functionality: In this new update, we have introduced smoothing without introducing delayed signaling when the market actually reaches a true Oversold Overbought level.
https://www.mql5.com/en/blogs/post/761189

typo correction

Added Alerts
Added Triangle Reversal Zones

Added a tip in the #description.

Interface improvements

Bug removal

Here is the full list of updates:True Oversold Overbought

1. This feature allows users who have the older version to keep using it or opt to use the updated version. This feature was added due to requests


2. The update improves the functionality and operations of the new version.


3. Thirdly, you can now add user defined levels for oversold and overbought levels. If you enable supercharge the system uses supercharge levels and not ordinary levels.


4. Lastly, there is a feature to draw the Rectangles when indicator reaches overbought/oversold levels as per user input levels.



Profitable trading to all.

1. Based on requests from users, we have removed the Convergence/Divergence lines sine they were obstructing operations of the indicator.
2. Secondly, we have added MFI filters.

RULE:
🔺 When the "Super Charge" feature is enabled, the areas where the price is in oversold/overbought status are amplified to give you a clear state of the market,therefore, you will not miss the moment to prepare for a reversal/retracement (over 5000 is overbought and below -5000 is oversold ; buy when indicator closes above -5000 and sell when it closes below 5000).

🔺 Alternatively, when the "Super Charge" feature is disabled, the indicator still shows the oversold and overbought levels but this time you get a broader view of the market (over 80 is overbought and below -80 is oversold; buy when indicator closes above -80 and sell when it closes below 80).

Removed a bug that was hiding some bearish divergence.

> Added Convergence/Divergence trendlines and arrows.
> Added Screen Alerts

* IT'S BETTER. WE HAVE PROVIDED MORE ROOM FOR THE MARKET TO BREATH
* REDUCED FALSE SIGNALS BY OVER 80%.
* WE HAVE ALSO REMOVED SOME AREAS THAT SEEMED TO CONFUSE THE USER.