- Replaced B with , Replaced S with
- Ability to change Overbought and Oversold Levels
- Clean PineScript
List of All my Indicators - https://www.tradingview.com/p/stocks/?so...
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.
// Version 0 - Created by UCS_Gears // Version 1 - Modified by Chris Moody "Added B/S" // Version 2 - Modified by UCS_Gears, "Replaced B/S with arrows", "Ability to change Overbought / Oversold Levels" study(title="DMI Stochastic Extreme", shorttitle="DMI-Stochastic", overlay=false) // Wells Wilders MA wwma(l,p) => wwma = (nz(wwma) * (l - 1) + p) / l // Inputs DMIlength = input(10, title = "DMI Length") Stolength = input(3, title = "Stochastic Length") Oversold = input(10, title = "Oversold") Overbought = input(90, title="Overbought") // DMI Osc Calc hiDiff = high - high loDiff = low - low plusDM = (hiDiff > loDiff) and (hiDiff > 0) ? hiDiff : 0 minusDM = (loDiff > hiDiff) and (loDiff > 0) ? loDiff : 0 ATR = wwma(DMIlength, tr) PlusDI = 100 * wwma(DMIlength,plusDM) / ATR MinusDI = 100 * wwma(DMIlength,minusDM) / ATR osc = PlusDI - MinusDI // DMI Stochastic Calc hi = highest(osc, Stolength) lo = lowest(osc, Stolength) Stoch = sum((osc-lo),Stolength) / sum((hi-lo),Stolength) *100 plot(Stoch, color = gray, title = 'Stochastic', linewidth = 2, style = line) crossUp = Stoch < Oversold and Stoch > Oversold ? 1 : 0 crossDown = Stoch > Overbought and Stoch < Overbought ? 1 : 0 plot (Overbought, color = red, linewidth = 1, title = 'Over Bought') plot (Oversold, color = green, linewidth = 1, title = 'Over Sold') plotchar(crossUp, title="Crossing Up", char='↑', location=location.bottom, color=aqua, transp=0, offset=0) plotchar(crossDown, title="Crossing Down",char='↓', offset=0, location=location.top, color=aqua, transp=0)
If you add it to Favorite, it would get listed in your fav indicators.