It seems more efficient than the traditional stochastic
Over bought when the green line is over 50
Over sold when the red line is over 50
Parameter “b” can be optimized for any timeframe and security (period of the calculation).
Combined with patterns or divergences It gives very good signals
Try It if you wont and give me feedback
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//settings: //b=20 if low < low[1] then llv = (highest[b](low)-low)/(highest[b](low)-lowest[b](low)) else llv = 0 endif LLSv = exponentialAverage[b](LLv)*100 if high > high[1] then hhs = (high - lowest[b](high))/(highest[b](high)-lowest[b](high)) else hhs=0 endif hhsv = exponentialaverage[b](hhs)*100 return hhsv coloured(0,250,0) style(line,2),llsv coloured(300,0,0) style(line,2),50 coloured(300,0,0) style(line,2) |
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Thanks Pier for this contribution. Your indicator has a lot of similarity with the Directional Movement Index, where did you get the idea?
Nice Pier, I put inside also the adx ….
//settings//b=20
if low < low[1] thenllv = (highest[b](low)-low)/(highest[b](low)-lowest[b](low))elsellv = 0endifLLSv = exponentialAverage[b](LLv)*100
if high > high[1] thenhhs = (high – lowest[b](high))/(highest[b](high)-lowest[b](high))elsehhs=0endifhhsv = exponentialaverage[b](hhs)*100
myadx=adx[b]
return hhsv coloured(0,250,0) style(line,2),llsv coloured(300,0,0) style(line,2),50 coloured(300,0,0) style(line,2),myadx
Indicator not working in Beta Version 11.1 , Any idea ??
What is the issue with version 11 and this indicator please?