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:
  • 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.


colouredTechnical IndicatorsribbonStochastic Oscillatorstochastic-overboughtstochastic-oversold

Script open-source

In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

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JustUncleL

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