Stochastic is a popular momentum indicator that is built around the assumption that in an uptrend the price close near the high and in a downtrend the price close near the low. By calculating stochastic in this way gives the opportunity to see price momentum and price changes.
THIS INDICATOR PLOTS STOCHASTIC-SIGNALS and makes use of the standard calculation of Stochastic. The indicator has built-in flexibility that allows you to determine the oversold/overbought value and CrossOver/CrossUnder value of Stochastic. This enables you to fit the values to the current market characteristics.
HOW TO USE
1. Determine the oversold and overbought value depending on current market characteristics
2. Determine the CrossOver and CrossUnder value depending on current market characteristics
3. When the signal appears, consider Enter the market.
INDICATOR IN ACTION
Wall Street This setting on the indicator enables you to follow trends!
AMZN
Dow Jones Industrial Average Index
GOLD
DIVERGENCES All types of momentum oscillator indicators produce divergences and so does Stochastics. Divergences occur when the oscillator deviates from the trending price action. Bullish divergence is then when the trending price makes a lower low but the oscillator makes a higher low. Bearish divergence is then when the trending price makes a higher high but the oscillator makes a lower high.
I hope you find this indicator useful, and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continue to work on this indicator, so please share your experience and feedback with me so that I can continuously improve it. Thanks to everyone that have contacted me regarding my scripts. Your feedback is valuable for future developments!
ACCESS THE FREE INDICATOR
• Contact me on TradingView or use the links below
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Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. My scripts/indicators/ideas are only for educational purposes!
Amazing indicator. Thank you for giving me access. I would like to know, will it work for a smaller TF like 5 min or 15min?? Coz I am an intraday trader. Thank u once again
amazing indicator, thank you so much for your work, will continue to follow!
stupidGuy
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Thank you so much for granting access to the indicator. :)
jacvar
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Thank u for granting me the access, appreciate the hard work. God bless you. Which timeframe do you recommend to use this indicator, will check it out.