Tutorial05

Stochastic w/ Crossover Alerts (by WJ)

Tutorial05 Updated   
NOTE:
// STOCHASTIC CODE TAKEN FROM DEFAULT INDICATOR
// I HAVE ONLY MADE SOME ADJUSTMENTS FOR VISUAL AID
// I MADE THIS FOR MY OWN USE BUT HAVE DECIDED TO PUBLISH AND SHARE IN CASE ANYBODY WANTS TO USE IT

This is the normal default built-in Stochastic indicator which I have added some stuff for visual aid:
  • Stochastic background turns green when K line crosses D line UPWARDS, D line is below the oversold level, and price is above selected MA
  • Stochastic background turns red when K line crosses D line DOWNWARDS, D line is above the overbought level, and price is below selected MA
  • Alert notification on the crossover candle with background colour change when conditions are met (MA filter)
Release Notes:
Changed alerts to K line detection as it's better, apologies for the confusion and trouble of re-adding the indicator
Release Notes:
Changed to both K and D line as it seems to be the best solution
Release Notes:
Added sharper detection mode (toggleable) that also takes whether the k and d lines of the candle before crossover candle into account
Release Notes:
Added middle line
Release Notes:
Added toggleable background colour change when k line crosses 50
Release Notes:
Added new alerts for non-OBOS crossovers
Release Notes:
MA checking was slightly wrong (used OPEN instead of CLOSE), fixed
Release Notes:
Updated some stuff
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.

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.

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