The RVB Index

So I am working on creating my own type of oscillator. It's not great, and, quite frankly I don't know how to use it for buy / sell signals. It's a simple chart - I have 11 items I use to determine the market's health, and I give them all equal weight. Then, I just add up the +'s and the -'s and come up with a score. You can see that lately my oscillator is showing some serious market weakness. One difficulty with this oscillator is that it is calculated off of my interpretation of several market charts, so there is some susceptibility there. I may simplify it over time - we'll see.

The red line is the raw calculation, and the black line is a moving average. Right now, I wouldn't be opening new positions, the market's going to make a choice of direction soon.