Version 2 Includes
Custom setting for the Oversold and Overbought Levels
Replaced B and S with arrows
Cleaned up the code and finalized the indicator.
*Unless there is a real need, this indicator will not be revised further.
Custom setting for the Oversold and Overbought Levels
Replaced B and S with arrows
Cleaned up the code and finalized the indicator.
*Unless there is a real need, this indicator will not be revised further.
Uday C Santhakumar
study(title="UCS_DMI Stochastic Extreme_V2", shorttitle="DMI-Sto-E_V2", overlay=false) // Wells Wilders MA wwma(l,p) => wwma = (nz(wwma[1]) * (l - 1) + p) / l // Inputs DMIlength = input(10, title = "DMI Length") Stolength = input(3, title = "DMI Stochastic Length") os = input (10, title = "Oversold") ob = input (90, title = "Overbought") // DMI Osc Calc hiDiff = high - high[1] loDiff = low[1] - low plusDM = (hiDiff > loDiff) and (hiDiff > 0) ? hiDiff : 0 minusDM = (loDiff > hiDiff) and (loDiff > 0) ? loDiff : 0 ATR = wwma(DMIlength, tr) PlusDI = 100 * wwma(DMIlength,plusDM) / ATR MinusDI = 100 * wwma(DMIlength,minusDM) / ATR osc = PlusDI - MinusDI // DMI Stochastic Calc hi = highest(osc, Stolength) lo = lowest(osc, Stolength) Stoch = sum((osc-lo),Stolength) / sum((hi-lo),Stolength) *100 plot(Stoch, color = blue, title = 'Stochastic', linewidth = 2, style = line) crossUp = Stoch[1] < os and Stoch > os ? 1 : 0 crossDo = Stoch[1] > ob and Stoch < ob ? 1 : 0 plot (ob, color = gray, linewidth = 1, title = 'Over Bought') plot (os, color = gray, linewidth = 1, title = 'Over Sold') plotchar(crossUp, title="Crossing Up Signal", char='⇑', location=location.bottom, color=green, transp=0) plotchar(crossDo, title="Crossing Down Signal",char='⇓', location=location.top, color=red, transp=0)