Sniper Stochastics
Sniper Stochastics is a triple stochastic system.
Basically, watch the 20 and 80 crossovers. However, the settings of the three stochastics correspond to Fibonacci numbers 55, 89, and 144.
Since we have a fast, medium and slow speed stochastics; we can also watch the crossovers.
I have found that When the Red (144) is on top, it usually signals a turn upwards; conversely, a blue (89) on top of the others means that the market is going to go down.
So red on top = bullish and blue on top= bearish.
You can also think of them in terms of efficiency. If they all display the same and are overlapping in a single line; crossing an 80 or 20 line, this is a strong signal - bullish or bearish.
If on the other hand, you see them splayed out and moving away from eachother but the same direction; it signals a more inefficient process and thus a weaker signal.
I really enjoy using these and I hope you will too.
On the settings, I have turned off the %D so that they display only %K's. The Default is 55, 89 ,144.
Basically, watch the 20 and 80 crossovers. However, the settings of the three stochastics correspond to Fibonacci numbers 55, 89, and 144.
Since we have a fast, medium and slow speed stochastics; we can also watch the crossovers.
I have found that When the Red (144) is on top, it usually signals a turn upwards; conversely, a blue (89) on top of the others means that the market is going to go down.
So red on top = bullish and blue on top= bearish.
You can also think of them in terms of efficiency. If they all display the same and are overlapping in a single line; crossing an 80 or 20 line, this is a strong signal - bullish or bearish.
If on the other hand, you see them splayed out and moving away from eachother but the same direction; it signals a more inefficient process and thus a weaker signal.
I really enjoy using these and I hope you will too.
On the settings, I have turned off the %D so that they display only %K's. The Default is 55, 89 ,144.
study(title="Sniper Stochastics", shorttitle="Snp Stoch") 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) h0 = hline(80) h1 = hline(20) fill(h0, h1, color = yellow, transp=90)