Overview Multi-function Stochastic indicator with functions below.
1.MTF with display timeframe control 2.Auto divergence drawing incl. hidden divergence 3.Signal when % K crosses over %D incl. MTF %K and %D 4.Alert when % K crosses over %D
Please see the details below.
Functions:
1.MTF with display timeframe control You can select one upper timeframe from monthly, weekly, daily, 4hour, 1hour, 30mins, 15mins, 5mins to display upper timeframe’s Stochastic as MTF Stochastic.
How is it different from other MTF indicators? Problems with other MTF Stochastic indicators are;
-If you set higher timeframe Stochastic, it will also be shown on further higher time frames. i.e. If you set 4hour chart’s Stochastic on 1 hour or lower time frame charts, it will also appear on daily and weekly chart, which is not necessary.
To tackle these problems, this indicator has incorporated functions below. -To show MTF Stochastic on timeframe lower than the upper timeframe you set as MTF timeframe. For example, if you select daily timeframe for MTF Stochastic , the Stochastic will be shown only on 4 hour or lower timeframes(1H, 30M, 15M, 5M, 1M).
<Sample chart> Left: 4hour chart, Middle: Daily chart, Right: Weekly chart If you look at 4hour chart, daily chart’s Stochastic is shown(pale blue and orange) but weekly chart does not show daily chart’s Stochastic.
2.Auto divergence drawing incl. hidden divergence Divergence line and hidden divergence line will be automatically drawn for the current timeframe Stochastic as per the logic below.
<Regular divergence> Bearish : When two consecutive pivot highs go up but %K values corresponding to each high go down. Bullish: When two consecutive pivot lows go down but %K values corresponding to each low go up. Pivot highs(lows) are identified when those are preceded by n lower highs(lows) and proceeded by n lower highs(lows). * n is parameterized.
See the diagram below.
<Divergence example>
<Hidden divergence> Bearish : When two consecutive pivot highs go down but %K values corresponding to each highs go up. Bullish : When two consecutive pivot lows go up but %K values corresponding to each low go down.
3.Signal when % K crossing %D Signal will be shown when; -%K crosses over %D below lower band -%K crosses under %D above upper band -%K(MTF) crosses over %D(MTF) below lower band -%K(MTF) crosses under %D(MTF) above upper band
4.Alert when % K crossing %D Alert can be set when; -%K crosses over %D below lower band -%K crosses under %D above upper band
How to use this indicator? This indicator is paid indicator and invited-only indicator.
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Added MTF Resolution mode. If 'Auto' selected, MTF Resolution will be automatically determined based on chart's timeframe as follows. If 'Manual' selected, the timeframe selected in 'MTF Resolution' will be applied")