It also displays buy and sell signals based upon the above.
The can be turned on and off, and the sell signal calculation will be changed accordingly ( not used to calculate buy signal).
All periods, OBOS levels, deviation, etc, are user adjustable. The buy and sell arrows can be optionally turned off.
The indicator supports alerts for the buy and sell signals.
This is a considerably rewritten, cleaned up, and updated version of my BB %b & Indicator and Alert with many more features, and including a .
This indicator is mainly for use with Cryptocurrencies in shorter time periods to display possible trade opportunities. Can also be used with Forex.
As always, don't take my thoughts as anything other than speculative ruminations and never invest more than you can lose.
Depending on the pair and currency there will be more sell signals than buy signals.
If you turn stochastic off then you will have sell signals as the inverse calculation that produces buy signals, but this will greatly limit your sell opportunities. The buy signals are limited for a reason, to ensure that it is more likely that a turnaround will occur. However, the sell signals are designed to be conservative when stochastic is turned on, to allow a profitable trade.
This can, of course, be turned off. YMMV.
do you have any specific setting and what other indicators can be used together with the script for better prediction?
I use the default settings for altcoin / btc pairs. I typically choose not to wait for a sell signal before selling, instead I set a limit order after buying for what seems an appropriate percentage gain given the chart action. I use several EMAs, short and long, as well as MACD to carefully watch the trend, and usually check other timeframes before buying, to ensure everything looks like it will indeed bounce.