OPEN-SOURCE SCRIPT
TDStochastic - TOM GOOD CAR (Center)
Indicator Overview
TDStochastic - TGC_Stoch_Center is a streamlined momentum analysis tool designed for clarity and efficiency. By integrating Stochastic calculations with a centralized real-time Dashboard, it allows traders to instantly identify market trends and momentum strength directly on the chart.
Key Features
Visual Dashboard: Features a top-center table displaying Trend Status (UP/DOWN), Price Strength (POWERFUL/WEAK), and the current percentage value.
Dynamic Bar Coloring: Automatically changes the candlestick colors based on Stochastic %D direction to filter out market noise.
Enhanced Smoothing: Utilizes SMA smoothing for K and D lines to provide a more stable and reliable signal compared to standard stochastic oscillators.
How to Use
Trend Identification: Monitor the "STATUS" cell. If the momentum is rising, it displays "UPTREND."
Strength Assessment: When momentum is positive and accelerating, the "POWERFUL" status confirms the prevailing trend's strength.
Execution: Ideally used for trend following. Traders can remain in positions as long as the bar color and dashboard status remain consistent with the direction.
Trading involves significant risk. This indicator is a technical analysis tool based on historical data and does not guarantee future profits. Always use proper risk management and do not rely solely on a single indicator for trading decisions.
TDStochastic - TGC_Stoch_Center is a streamlined momentum analysis tool designed for clarity and efficiency. By integrating Stochastic calculations with a centralized real-time Dashboard, it allows traders to instantly identify market trends and momentum strength directly on the chart.
Key Features
Visual Dashboard: Features a top-center table displaying Trend Status (UP/DOWN), Price Strength (POWERFUL/WEAK), and the current percentage value.
Dynamic Bar Coloring: Automatically changes the candlestick colors based on Stochastic %D direction to filter out market noise.
Enhanced Smoothing: Utilizes SMA smoothing for K and D lines to provide a more stable and reliable signal compared to standard stochastic oscillators.
How to Use
Trend Identification: Monitor the "STATUS" cell. If the momentum is rising, it displays "UPTREND."
Strength Assessment: When momentum is positive and accelerating, the "POWERFUL" status confirms the prevailing trend's strength.
Execution: Ideally used for trend following. Traders can remain in positions as long as the bar color and dashboard status remain consistent with the direction.
Trading involves significant risk. This indicator is a technical analysis tool based on historical data and does not guarantee future profits. Always use proper risk management and do not rely solely on a single indicator for trading decisions.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.