OPEN-SOURCE SCRIPT
Stochastic RSI with crossover-indication and alerts
Updated
On the normal Stochastic RSI it may be hard to see the exact crosses between the two lines. This version makes that a little easier.
Shows green line when K-line crosses up the D-line, but below the 50-level (this treshold level can be adjusted in the settings).
Shows red line when K-line crosses down the D-line, but above the 50-level (treshold level can be adjusted).
Option to show lines on the subsequent one or two bars. For instance you can use a rule that a crossover is still valid for trade-entry when it happened 2 bars ago.
Shows green line when K-line crosses up the D-line, but below the 50-level (this treshold level can be adjusted in the settings).
Shows red line when K-line crosses down the D-line, but above the 50-level (treshold level can be adjusted).
Option to show lines on the subsequent one or two bars. For instance you can use a rule that a crossover is still valid for trade-entry when it happened 2 bars ago.
Release Notes
Cleaned up the code.Linewidth can now be adjusted.
In the style-settings you can get rid of the vertical lines, leaving just a tiny cross as an indication where the K and D have crossed.
Release Notes
New version can generate alerts with crossover / crossunder,but with additional condition that candle itself is bulllish (green) or bearish (red).Release Notes
.Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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