[blackcat] L2 Vitali Apirine Weekly & Daily Stochastics

19 lug 2022

Level 2

Background

Vitali Apirine’s articles in the Sep issues on 2018,“Weekly & Daily Stochastics”

Function

In “Weekly & Daily Stochastics” in this issue, author Vitali Apirine introduces a novel approach to using the classic stochastic indicator in a way that simulates calculations based on different timeframes while using just a daily interval chart. He describes a number of ways to use this new indicator that allows traders to detect the state of longer-term trends while looking for entry points and reversals. Here, I am providing the TradingView pine code for an indicator based on the author’s ideas.

Remarks

Feedbacks are appreciated.

20 apr

Note di rilascio

OVERVIEW
The [blackcat] L2 Vitali Apirine Weekly & Daily Stochastics indicator combines both weekly and daily stochastic oscillators to provide a comprehensive view of market momentum across different timeframes. This script calculates smoothed stochastic values for both periods and plots them on the chart with gradient colors based on their RSI values 📈💹.

FEATURES

Calculates smoothed stochastic values for both daily and weekly periods:
Customizable lengths for daily and weekly stochastics.
Adjustable smoothing lengths for refined signals.
Plots stochastic lines with dynamic gradient colors based on RSI values:
Daily Stochastic: Thin line representing short-term momentum.
Weekly Stochastic: Thick line indicating longer-term trends.
Includes customizable overbought and oversold thresholds:
Overbought threshold: Default at 80 level.
Oversold threshold: Default at 20 level.
Mid-line at the average of overbought and oversold thresholds.
Displays buy ('Buy') and sell ('Sell') labels on the chart for quick identification 🏷️
HOW TO USE

Add the indicator to your TradingView chart by selecting it from the indicators list.
Adjust the parameters such as Daily Stochastic Length, Weekly Stochastic Length, Daily Smoothing Length, and Weekly Smoothing Length to fit your trading strategy ⚙️.
Monitor the plotted stochastic lines and their corresponding gradient colors for trend analysis.
Use the buy and sell labels as potential entry and exit points in your trades.
Combine this indicator with other tools for confirmation before making trading decisions.
LIMITATIONS

The indicator may generate false signals in highly volatile or ranging markets 🌪️.
Users should combine this indicator with other forms of analysis for more reliable trading decisions.
The effectiveness of the indicator may vary depending on the asset and timeframe being analyzed.
NOTES

Ensure that you have sufficient historical data available for accurate calculations.
Test the indicator thoroughly on demo accounts before applying it to live trading 🔍.
Customize the appearance and parameters as needed to fit your trading strategy.