OPEN-SOURCE SCRIPT
Stochastic with Outlier Labels/MTF
TL;DR This indicator is an update to a simple stochastic ('Stoch_MTF' by binarytrader666) that provides a novel outlier highlighting feature
Improvements on stochastic:
1. Novel outlier highlighting that points out crosses that are the Nth consecutive cross or greater.
2. Allowing for multiple timeframes to be shown on the same chart
3. Highlighting/Labelling crosses and providing labels for alerts
A cross of the stochastics in the high or low zones establishes a trend. Successive crosses in the same region seem to indicate a continuation of that trend. The outlier functionality here provides a signal for when X number of crosses have been in the same trend, signaling further strength of that signal.
I also provided the necessary code for converting this to a strategy if you so wish at the bottom.
Improvements on stochastic:
1. Novel outlier highlighting that points out crosses that are the Nth consecutive cross or greater.
2. Allowing for multiple timeframes to be shown on the same chart
3. Highlighting/Labelling crosses and providing labels for alerts
A cross of the stochastics in the high or low zones establishes a trend. Successive crosses in the same region seem to indicate a continuation of that trend. The outlier functionality here provides a signal for when X number of crosses have been in the same trend, signaling further strength of that signal.
I also provided the necessary code for converting this to a strategy if you so wish at the bottom.
Script de código aberto
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 publications is governed by House rules. Você pode favoritá-lo para usá-lo em um gráfico.
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