OPEN-SOURCE SCRIPT
Stochastic RSI with Custom Level
//version=6
indicator("Stochastic RSI with Custom Level", overlay = false)
// Input parameters
rsiLength = input.int(14, title="RSI Length")
stochLength = input.int(14, title="Stochastic Length")
kSmooth = input.int(3, title="K Smoothing")
dSmooth = input.int(3, title="D Smoothing")
customLevel = input.float(80, title="Custom Level for True/False Output")
timeframe = input.timeframe("2D", title="Timeframe")
// Calculate RSI
rsi = ta.rsi(close, rsiLength)
// Calculate Stochastic RSI
stochRsi = ta.stoch(rsi, rsi, rsi, stochLength)
k = ta.sma(stochRsi, kSmooth)
d = ta.sma(k, dSmooth)
// Plot Stochastic RSI
plot(k, title="Stochastic RSI %K", color=color.blue)
plot(d, title="Stochastic RSI %D", color=color.red)
// True/False output based on custom level
output = k > customLevel
plotshape(output, title="Output", location=location.top, color=color.green, style=shape.labelup, text="True")
// Screener functionality
if (output)
label.new(bar_index, high, "Selected", color=color.green, textcolor=color.white, style=label.style_label_up)
indicator("Stochastic RSI with Custom Level", overlay = false)
// Input parameters
rsiLength = input.int(14, title="RSI Length")
stochLength = input.int(14, title="Stochastic Length")
kSmooth = input.int(3, title="K Smoothing")
dSmooth = input.int(3, title="D Smoothing")
customLevel = input.float(80, title="Custom Level for True/False Output")
timeframe = input.timeframe("2D", title="Timeframe")
// Calculate RSI
rsi = ta.rsi(close, rsiLength)
// Calculate Stochastic RSI
stochRsi = ta.stoch(rsi, rsi, rsi, stochLength)
k = ta.sma(stochRsi, kSmooth)
d = ta.sma(k, dSmooth)
// Plot Stochastic RSI
plot(k, title="Stochastic RSI %K", color=color.blue)
plot(d, title="Stochastic RSI %D", color=color.red)
// True/False output based on custom level
output = k > customLevel
plotshape(output, title="Output", location=location.top, color=color.green, style=shape.labelup, text="True")
// Screener functionality
if (output)
label.new(bar_index, high, "Selected", color=color.green, textcolor=color.white, style=label.style_label_up)
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.