SpreadEagle71

Sniper Stochastics 2

Sniper Stochastics 2 is like the other one - a triple stochastics consisting of different lengths, in this case 55,89,144.

One thing I noticed was that the stochastics lines can be a kind of divergence detector with the slow (red), medium (blue) and fast(black) lines making breakaways once they converge.
For example, if the lines are together and the black line starts to diverge upwards, it means that there is a positive divergence which will happen quickly and then end. The blue and the red lines are longer term divergences.

I wanted to share this one and the unique and interesting use of divergences with this indicator.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
study(title="Sniper Stochastics 2", shorttitle="Snp Stoch2")
plotchar = location.top
length1 = input(55, minval=1), smoothK1 = input(1, minval=1), smoothD1 = input(3, minval=1)
length2 = input(89, minval=1), smoothK2 = input(1, minval=1), smoothD2 = input(1, minval=1)
length3 = input(144,minval=1),smoothk3 = input(1,minval=1),smoothD3 = input(1,minval=1)
k1 = sma(stoch(close, high, low, length1), smoothK1)
d1 = sma(k1, smoothD1)
plot(k1, color=black)
k2 = sma(stoch(close, high, low, length2), smoothK2)
d2 = sma(k2, smoothD2)
plot(k2, color=blue)
k3 = sma(stoch(close,high,low,length3),smoothk3)
d3 = sma(k3,smoothD3)
plot(k3,color=red)