OPEN-SOURCE SCRIPT
Stochastic Oscillator with Signals
//version=5
indicator("Stochastic Oscillator with Signals", overlay=true)
// Input parameters
k = input.int(14, title="%K Length")
d = input.int(3, title="%D Length")
smoothK = input.int(3, title="Smoothing")
// Calculating Stochastic Oscillator
kValue = ta.sma(ta.stoch(close, high, low, k), smoothK)
dValue = ta.sma(kValue, d)
// Overbought and Oversold levels
obLevel = 80
osLevel = 20
// Buy and Sell Conditions
buySignal = ta.crossover(kValue, dValue) and kValue < osLevel
sellSignal = ta.crossunder(kValue, dValue) and kValue > obLevel
// Plotting the Stochastic Oscillator
plot(kValue, title="%K", color=color.blue)
plot(dValue, title="%D", color=color.orange)
hline(obLevel, "Overbought", color=color.red)
hline(osLevel, "Oversold", color=color.green)
// Plot Buy and Sell Signals on Candlestick Chart
plotshape(buySignal, location=location.belowbar, color=color.green, style=shape.labelup, title="Buy", text="Buy")
plotshape(sellSignal, location=location.abovebar, color=color.red, style=shape.labeldown, title="Sell", text="Sell")
indicator("Stochastic Oscillator with Signals", overlay=true)
// Input parameters
k = input.int(14, title="%K Length")
d = input.int(3, title="%D Length")
smoothK = input.int(3, title="Smoothing")
// Calculating Stochastic Oscillator
kValue = ta.sma(ta.stoch(close, high, low, k), smoothK)
dValue = ta.sma(kValue, d)
// Overbought and Oversold levels
obLevel = 80
osLevel = 20
// Buy and Sell Conditions
buySignal = ta.crossover(kValue, dValue) and kValue < osLevel
sellSignal = ta.crossunder(kValue, dValue) and kValue > obLevel
// Plotting the Stochastic Oscillator
plot(kValue, title="%K", color=color.blue)
plot(dValue, title="%D", color=color.orange)
hline(obLevel, "Overbought", color=color.red)
hline(osLevel, "Oversold", color=color.green)
// Plot Buy and Sell Signals on Candlestick Chart
plotshape(buySignal, location=location.belowbar, color=color.green, style=shape.labelup, title="Buy", text="Buy")
plotshape(sellSignal, location=location.abovebar, color=color.red, style=shape.labeldown, title="Sell", text="Sell")
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.