OPEN-SOURCE SCRIPT
@theCF Stochastic
Stochastic with Bullish , Bearish and Neutral Ranges as well as a modification to check the %D line with a Exponential Moving Average .
Since Exponential Moving Averages put more weight onto recent values, they react differently than the Standard Simple Moving Average .
On Stochastic I have observed, that there can often occur false crossover signals. While this also happens with an Exponential Moving Average as %D indeed, the amount is more limited, therefore giving less false signals.
I prefer to display both at the same time, for more information.
The ranges act as general support and resistance zones on Stochastic . Whenever Stochastic oscillates within one of the ranges, one can interpret it as either bullish , neutral or bearish for price.
A Stochastic that oscillates mainly within the bullish range can be interpreted rather bullish , the opposite goes for the bearish range which is interpreted bearish .
I have coded these ranges into the Standard Stochastic Script, as well as the option to display the %D line as a Exponential Moving Average .
For more information about the indicator, feel free to leave a comment and ask.
Since Exponential Moving Averages put more weight onto recent values, they react differently than the Standard Simple Moving Average .
On Stochastic I have observed, that there can often occur false crossover signals. While this also happens with an Exponential Moving Average as %D indeed, the amount is more limited, therefore giving less false signals.
I prefer to display both at the same time, for more information.
The ranges act as general support and resistance zones on Stochastic . Whenever Stochastic oscillates within one of the ranges, one can interpret it as either bullish , neutral or bearish for price.
A Stochastic that oscillates mainly within the bullish range can be interpreted rather bullish , the opposite goes for the bearish range which is interpreted bearish .
I have coded these ranges into the Standard Stochastic Script, as well as the option to display the %D line as a Exponential Moving Average .
For more information about the indicator, feel free to leave a comment and ask.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.