OPEN-SOURCE SCRIPT
Stochastic with False bar R2-2 by JustUncleL
This study project is an updated version of the implementation of the "Stochastic False BAR" indicator.
Description:
The standard Stochastic buy/sell indications come from Stochastic crosses about the standard overbought/oversold zones (80/20). This does not always work and you get stuck in the OB/OS zones with a trend continuation. Utilising a second much longer length Stochastic, the "False BAR" (Black) indicates when it is unsafe to take Stochastic cross over trades. Where the false bar does not appear (aqua, no background highlighing), the overbought / oversold conditions of the Stochastic can be considered higher-probability reversal areas and thus trading opportunities.
This Revision:
Description:
The standard Stochastic buy/sell indications come from Stochastic crosses about the standard overbought/oversold zones (80/20). This does not always work and you get stuck in the OB/OS zones with a trend continuation. Utilising a second much longer length Stochastic, the "False BAR" (Black) indicates when it is unsafe to take Stochastic cross over trades. Where the false bar does not appear (aqua, no background highlighing), the overbought / oversold conditions of the Stochastic can be considered higher-probability reversal areas and thus trading opportunities.
This Revision:
- Added options to enable/disable False Bar lines and Stochastic trends.
- Added options to modify upper and lower limits of false bar Stochastic and trading stochastic trend.
- Added option to show the trading Stochastic as coloured Ribbon.
- Added name titles for all plots
- Added Background highlighting for False Bar.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
¿Quiere utilizar este script en un gráfico?
JustUncleL
Exención de responsabilidad
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