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Violent
Apr 24, 2020 10:20 PM

Stochastic Ribbon 

Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Description

A series of highs and lows of different lengths to create a ribbon-like indicator to emulate the stochastic oscillator's top (100), middle (50) and bottom (0). Traders can determine the strength of the support and resistance by the number of converging lines, choose price points and visualise momentum waves.

Inputs:

Theme: multiple colours/themes (theme 2)

Length: high/low length (14)

Start: plot number to start ribbon on (1)

PlotNumber: number of plots to show; maximum 10 per top, middle, bottom (10)

Example:

Length: 14
Start: 5
PlotNumber: 10
Comments
edgarragde
hi! I love it!
I juste have a question about this indicator. the middle "line" are a lot of time representing the 0.5 fibo level, is there a possibility to modify something on the script to make it follow more a 0.61 fib than a 0.5 ?
any way this indicator killing it thanks for sharing it !
ElementalB
I like the simplicity of this. TY.
wwlan
thank you very much!
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