Erick Multi Stochastic (Fixed)

30 thg 12, 2024

HOW TO USED?

First Step:
Turn off the SIGNAL line...

2nd Step.
Wait all the line to go beyond overbought or oversold line.

3rd step.
Watch for DIVIRGENT in the Charts.


Multi Stochastic Indicator Description
The Multi Stochastic Indicator is a custom technical analysis tool designed to provide insights into market momentum by plotting multiple Stochastic Oscillators on the same chart. This script is ideal for traders who want to compare different time-frame Stochastics in a single view to make informed trading decisions.

How It Works:
Stochastic Oscillator: The Stochastic Oscillator measures the level of the closing price relative to the high-low range over a set period. It consists of:

%K Line (Main Line): A fast-moving line representing raw Stochastic values.
%D Line (Signal Line): A smoothed version of %K.
Multi-Timeframe Analysis: This script calculates four Stochastic Oscillators with different parameter sets, allowing users to observe market conditions across short, medium, and long-term perspectives.

Inputs:
K Period, D Period, and Slowing: Parameters for each of the four Stochastics, customizable to suit your trading strategy.
Example Input Settings:

Stoch 1: Short-term (e.g., 9, 3, 3)
Stoch 2: Medium-term (e.g., 14, 3, 3)
Stoch 3: Long-term (e.g., 40, 4, 3)
Stoch 4: Very long-term (e.g., 60, 10, 1)
Features:
Color-Coded Lines:

Each Stochastic Oscillator is represented with distinct colors for easy identification:
Blue/Light Blue: Stoch 1
Red/Orange: Stoch 2
Green/Lime: Stoch 3
Purple/Magenta: Stoch 4
Overbought and Oversold Levels:

Horizontal lines are drawn at 80 (Overbought), 50 (Neutral), and 20 (Oversold).
Customisable Appearance:

Line widths and colors can be adjusted directly in the code or TradingView settings.
How to Use:
Add to Your Chart:

Copy and paste the script into TradingView's Pine Script editor.
Click "Add to Chart" to display the indicator in a separate window.
Interpret the Indicator:

Look for overbought conditions when %K and %D are near 80.
Look for oversold conditions when %K and %D are near 20.
Crossovers of %K above %D indicate potential buy signals, while crossovers below %D indicate potential sell signals.
Combine with Other Tools:

Use this indicator with other technical tools (e.g., trendlines, volume indicators) to validate signals.
Analyze how Stochastics across different timeframes align for stronger confirmation.
Practical Example:
If Stoch 1 and Stoch 2 show overbought signals (above 80) while Stoch 3 and Stoch 4 are in neutral or oversold zones, this could indicate short-term retracement opportunities in an otherwise bullish trend.
Use the Multi Stochastic Indicator to enhance your analysis by observing momentum shifts across multiple perspectives.