MTF Stochastic with automatic divergence

5 thg 7, 2020

This is a stochastic indicator that show the stochastic in your current timeframe and also the stochastic from the timeframe above (if current is 15 mins - the above is 1 hour etc). When the 2 stochastics align the background colour highlights to emphasise that. The idea being that you have your current stochastic pushing down improving your change of a successful entry and the stochastic from above pushing down showing there is momentum in that direction.

In addition, the indicator will show when positive and negative divergence occurs on the current timeframe. Divergence can be a little subjective but it seems to find the important ones.

Finally, it highlights when the current stochastic crosses. I was finding once you squash it down it gets difficult to see so I made that easier.

For me I don't tend to use the divergence feature (which is ironic as i found it very hard to code) but being able to see what is happening on the timeframe above is a very effective filter saving me from bad trades.

The script is a little scruffy in places but neat enough to adapt to other indicators. Somewhere I have the same principle for MACD - one of these days I'll find it and make it available.

Hope thats useful to people and good luck.

27 thg 9, 2020

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fixed background highlight for non white screens

1 thg 10, 2020

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stronger signal filter
option to make upper stochastic grey

1 thg 10, 2020

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bug fix

8 thg 10, 2020

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bug

8 thg 10, 2020

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.

24 thg 10, 2020

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the script stopped working - must be a pine update

I fixed it and modified the input but I've dropped the divergence - its too complicated to fix. Its the previous revision if someone wants to rescue it...

24 thg 10, 2020

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j

1 thg 11, 2020

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d

1 thg 11, 2020

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d

13 thg 11, 2020

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choose any currency and can see 3 timeframes up

13 thg 11, 2020

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I FORGOT TO ADD REVERSE JPY OPTIONS

13 thg 11, 2020

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THIS TIME I GOT IT

13 thg 11, 2020

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READDED JPY

13 thg 11, 2020

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.

21 thg 6, 2022

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Various updates. The auto divergence is long gone.

23 thg 6, 2022

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gygtuyg

23 thg 6, 2022

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vhgvhgv

24 thg 6, 2022

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improved bgfill