Stocashi + CaffeineCrush Momentum Indicator by CoffeeShopCrypto
This is just a fun script to give a different representation to the ever popular Stochastic RSI
Even for me over the years the stochastic has been a difficult one to use in trading merely because of its choppy look.
Since Heikin-Ashi Candles do such a powerful job in smoothing out the look of choppy markets,
I decided to test it out on the look of the Stochastic RSI.
From an initial visual standpoint it worked out WAY better than I thought but it seemed to need something more.
I decided to use the PineScript "Color.From_Gradient" feature to give the Stochastic a more 3 dimensional look, which really brought the "old-school" indicator to life.
Description:
The CaffeineCrush Momentum Indicator is your ultimate trading companion, blending the invigorating world of coffee with the excitement of market momentum. Just like a finely brewed cup of joe,
This indicator provides you with a powerful insight into market dynamics, helping you stay in the trading groove.
As you sip on this caffeinated delight, CaffeineCrush monitors the velocity and strength of price movements,
measuring the momentum of the market. But here's where it gets even more enticing – it goes a step further by incorporating a pressure indication, adding a stimulating twist to your trading experience.
Imagine yourself in a bustling coffee shop, surrounded by the aroma of freshly roasted beans and the energetic buzz of conversations.
CaffeineCrush mimics that atmosphere, keeping you on your toes, always aware of market forces at play.
With CaffeineCrush, you'll never miss a beat. It identifies and highlights moments of heightened momentum and increased pressure,
giving you an edge in capturing profitable opportunities. Just like a perfectly extracted espresso shot, this indicator helps you maintain your trading momentum and navigate the market with confidence.
So, grab your favorite cup of joe, fire up your trading charts, and let CaffeineCrush awaken your trading prowess.
Stay in the groove, embrace the buzz, and master the momentum with this flavorful indicator by your side.
Divergence -
Regular Divergence shows when there is a conflict between the strength of the trend and the swing of the price movement.
Hidden Divergence -
Are to be traded using the same methods as hidden divergences of the MACD or the RSI. A hidden divergence is commonly a trend CONTINUATION move.
Pink Pause -
This shows a ranging area where price is taking a pause. It can be a single candle or a string of candles. But histogram with continue with its RED / GREEN colors once the pause is over.
Stocashi + CaffeineCrush is not an entry / exit indicator. It's designed to help you understand:
1. Weather your trend is continuing
2. When it pauses
3. Has your pullback started / ended
Its best used near area of conflict. For example:
1. If you have a breakout to the low side of support zone, and you get a BULLISH divergence, this can be viewed as a false breakout.
2. If you trading towards the opposite area of a range or key level and you get conflicting movement in the Stocashi + CaffeineCrush, then you should take ur profits and wait for the next move.
3. If you are following through with example 2 above, but get NO conflicts, you can immediately look for a secondary take profit area and split / hedge your take profits.
Even for me over the years the stochastic has been a difficult one to use in trading merely because of its choppy look.
Since Heikin-Ashi Candles do such a powerful job in smoothing out the look of choppy markets,
I decided to test it out on the look of the Stochastic RSI.
From an initial visual standpoint it worked out WAY better than I thought but it seemed to need something more.
I decided to use the PineScript "Color.From_Gradient" feature to give the Stochastic a more 3 dimensional look, which really brought the "old-school" indicator to life.
Description:
The CaffeineCrush Momentum Indicator is your ultimate trading companion, blending the invigorating world of coffee with the excitement of market momentum. Just like a finely brewed cup of joe,
This indicator provides you with a powerful insight into market dynamics, helping you stay in the trading groove.
As you sip on this caffeinated delight, CaffeineCrush monitors the velocity and strength of price movements,
measuring the momentum of the market. But here's where it gets even more enticing – it goes a step further by incorporating a pressure indication, adding a stimulating twist to your trading experience.
Imagine yourself in a bustling coffee shop, surrounded by the aroma of freshly roasted beans and the energetic buzz of conversations.
CaffeineCrush mimics that atmosphere, keeping you on your toes, always aware of market forces at play.
With CaffeineCrush, you'll never miss a beat. It identifies and highlights moments of heightened momentum and increased pressure,
giving you an edge in capturing profitable opportunities. Just like a perfectly extracted espresso shot, this indicator helps you maintain your trading momentum and navigate the market with confidence.
So, grab your favorite cup of joe, fire up your trading charts, and let CaffeineCrush awaken your trading prowess.
Stay in the groove, embrace the buzz, and master the momentum with this flavorful indicator by your side.
Divergence -
Regular Divergence shows when there is a conflict between the strength of the trend and the swing of the price movement.
Hidden Divergence -
Are to be traded using the same methods as hidden divergences of the MACD or the RSI. A hidden divergence is commonly a trend CONTINUATION move.
Pink Pause -
This shows a ranging area where price is taking a pause. It can be a single candle or a string of candles. But histogram with continue with its RED / GREEN colors once the pause is over.
Stocashi + CaffeineCrush is not an entry / exit indicator. It's designed to help you understand:
1. Weather your trend is continuing
2. When it pauses
3. Has your pullback started / ended
Its best used near area of conflict. For example:
1. If you have a breakout to the low side of support zone, and you get a BULLISH divergence, this can be viewed as a false breakout.
2. If you trading towards the opposite area of a range or key level and you get conflicting movement in the Stocashi + CaffeineCrush, then you should take ur profits and wait for the next move.
3. If you are following through with example 2 above, but get NO conflicts, you can immediately look for a secondary take profit area and split / hedge your take profits.
リリースノート:
I removed the separation between LEFT and RIGHT lookback for pivots and replaced it with a SINGLE input.
Before you would need to place a lookback number for left and right seperatly.
Now you just place a single number and it will look backwards and forwards evenly.
Before you would need to place a lookback number for left and right seperatly.
Now you just place a single number and it will look backwards and forwards evenly.
リリースノート:
Removed the "Timeframe" calculation. Its just not needed here
Color inputs are now user selectable. You can choose the colors you want for "Trend Strength" to show you
STRONG BULLISH
WEAK BULLISH
STRONG BEARISH
WEAK BEARISH
Removed plots from the "Settings" tab since they are no longer needed which cleans up the UI a bit.
Code show run a bit faster now.
Color inputs are now user selectable. You can choose the colors you want for "Trend Strength" to show you
STRONG BULLISH
WEAK BULLISH
STRONG BEARISH
WEAK BEARISH
Removed plots from the "Settings" tab since they are no longer needed which cleans up the UI a bit.
Code show run a bit faster now.
リリースノート:
User has ability to change color of Overbought and Oversold levels as needed.
