OPEN-SOURCE SCRIPT

UCS_S_Stochastic Pop and Drop Strategy

My Contribution to Jake Bernstein Educational Series, Initiated by Chris Moody.

The Stochastic Pop was developed by Jake Bernstein and modified by David Steckler. Bernstein's original Stochastic Pop is a trading strategy that identifies price pops when the Stochastic Oscillator surges above 80. Steckler modified this strategy by adding conditional filters using the Average Directional Index (ADX) and the weekly Stochastic Oscillator.

Modifications
1. Weekly Stochastic Oscillator for Trading Bias = 5* Daily Stochastic
2. Optional Volume Confirmation, Custom Average Volume Length

Future Plans
1. Adding Triggers for Entry, Stops and Target. - This will be release when we have ability to code the complete Strategy. Although it can be done with the current pinescript options, it would be far more easier if we have strategy ability.

Link for Educational Purpose
stockcharts.com/school/doku.php?id=chart_school:trading_strategies:stochastic_pop_drop

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Good Luck Trading
UCSgears

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