RSI Stochastic Extreme Combo alert

This script will give you red or green columns as an indication for oversold/overbought based upon the rsi and stochastic both being at extreme levels (you set). The default oversold is at 35. If Stochastic and RSI fall below 35, you will get a green column (Both indicators at the extreme). Play with your levels to see how your stock reacts. RSI and Stochastic can both be changed along with each of the levels you would like the color change. I have set mine at RSI low: 37, RSI high: 63, Stoch low: 10, and Stoch high: 90. These levels have been working well for me on AAPL . Enjoy and don't forget to leave a comment if it helps your trading or you have other ideas about what is working for you.
Script de código aberto

No verdadeiro espírito TradingView, o autor deste script o publicou com código aberto, para que os traders possam compreendê-lo e verificá-lo. Um brinde ao autor! Você pode usá-lo gratuitamente, mas a reutilização deste código em uma publicação é regida pelas Regras da Casa. Você pode favoritá-lo para utilizá-lo em um gráfico.

Quer usar esse script no gráfico?
//Created by Robert Nance on 6/26/15
//This script will give you red or green columns as an indication for oversold/overbought based
//upon the rsi and stochastic both being at certain levels. The default oversold is at 35.  If Stochastic
//and RSI fall below 35, you will get a green column.  Play with your levels to see how your stock reacts.

study(title="RSI Stochastic Combo alert", shorttitle="Rob RSI Stoch")

src = close, len = input(14, minval=1, title="RSI Length")
up = rma(max(change(src), 0), len)
down = rma(-min(change(src), 0), len)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))

length = input(14, minval=1, title="Stoch Length"), smoothK = input(1, minval=1, title="Stoch K")
k = sma(stoch(close, high, low, length), smoothK)

rsilow = input(35, title="rsi Low value")
rsihigh = input(65, title="rsi High value")
stochlow = input(35, title="stochastic Low value")
stochhigh = input(65, title="stochastic High value")
Buy=rsi<rsilow and k<stochlow
Sell=rsi>rsihigh and k>stochhigh
plot(Buy,  title= "Buy", style=columns, color=lime)
plot(Sell,  title= "Sell", style=columns, color=red)


New here -- can someone explain how to use this script (or any script for that matter)? I can't seem to find it anywhere on my page after I added it to "Favorite Script" (I can't find "Favorite Scripts") and I don't know where/how to insert this script to make it work .. thx
+1 Resposta
repo32 bradhartliep
@bradhartliep, Right click inside the chart. Click on Insert Indicator. The list will begin with Favorites. Your saved indicators will be in there.
+1 Resposta
Hi, is it possible to set a buying alert?
repo32 pklinga
@pklinga, Yes, click inside the column and add alert. Usually indicators like this are a value of 1 when activated, otherwise it is 0. I set the alert for greater than .05 and it will go off when it triggers.
pklinga repo32
@repo32, Thanks. But when I set condition "greater than", it's automatically set the value to "Sell"
Is that ok?
repo32 pklinga
@pklinga, I just tried it. You can set it up for either one. Just change it to Buy or Sell. You will need two alerts setup if you want both. When the indicator is green, that is Buy. When the indicator is red, that is Sell.
pklinga repo32
@repo32, Than you, I'll try
Great for binary options! Thank you!
hi @repo32 i try plot this onto my chart 1hr and daily for stockmarket and it doesn't show the Stochastic & RSI line. all it shown is the red and green bar on the bottom which I can interpret as oversold/overbought indication, I am searching for a good indicator which combine RSI + Stochastic + MACD in 1 indicator, would appreciate if anyone have suggestion for an indicator which combine those 3 in altogether. Thank you. I am mostly in stock market swing trades. Thank you.
Hola sabes donde puedo conseguir para probar este indicador?
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