OPEN-SOURCE SCRIPT

Natural Stochastic Indicator [CC]

Updated

The Natural Stochastic Indicator was created by Jim Sloman and this is another indicator from his Ocean series which I will eventually publish all of them. Big thanks to altcoinz and tmac87 for giving me all of the source code in order to publish Jim's life work. This is another momentum indicator but unlike a traditional stochastic indicator, this one doesn't use overbought and oversold levels. Instead it becomes a sell signal when the indicator starts getting lower and vice versa. This takes the classic approach to a stochastic and combines it with the time factor from Jim's Ocean Theory to create this new indicator. I have included strong buy and sell signals as darker colors and normal buy and sell signals as lighter colors. Buy when the line turns green and sell when it turns red.

Let me know if there are any other indicators you would like to see me publish!

Release Notes

Removed an input that wasn't needed

Release Notes

Fixed an error pointed out to me by RedKTrader

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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