If you’re into conserving screen real estate then this version of Stochastic Madness is just the ticket. The signals are plotted on the high or low of the corresponding bar.
Stochastic Madness - Upper Study
Stochastic Madness – Upper Study
Mar 2nd, 2009 by ThinkScripter
9 Responses to “Stochastic Madness – Upper Study”
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ThinkScripter -
You do a “Fantastic” job on all the thinkscripts you create!
The way I see it, it’s actually more like art!
Nice job on this study as well as all the others you have created.
Keep up the Great Art!
Peace -
Bill
Thanks Bill. I appreciate the kind remarks.
-TS
love this site and indicator…is there a way to reduce false master buy or sell signals on this indicator
sigh.. no holy grail…
well ts, if you think you come close.. feel free to share it and I will see if I can help improve it.. : )
by the way… try testing on your squeeze indicator, momentum oscillator to 4 and momentum to 5…
seems to work on a 5 minute time frame
hello Ts thanks for your answer…one more thing doyou have sumthing that signal divergences whether hidden or normal on the stocs..
Yes – But I have not released it yet.
-TS
Great work on all these chartscripts. I salute you for doing the work to code all these and making them free for all to view. I also like your attitude of presenting them as merely simple tools and agree that the most powerful tool we have is our minds. Prudent money management and careful preservation of capital is by far more important than any technical indicator.
+1 Darren
You should customize the stochastic parameters to fit your needs/trading style/market traded. That said, if you are just buying and selling when you see the signals, then you need to do some research on stochastics and what overbought and oversold means. In isolation, a single signal may be a good indication of a turning point. Multiple signals can be an indication of continuation (BOSO signals – Buying overbought, Selling oversold).
I have said it before and I will say it again. There is no Holy Grail. All these indicators are simply tools to help the trader make informed decisions. None of them should be used in isolation. If it were that easy, everyone would make a black box triple stochastic, turn it on, and get rich.