Stochastic Cycle

Free

Developed By: JoySebastian

In stock

The Stochastic cycle indicator shows the turning points in the stochastic indicator. This is useful for identifying divergence between the indicator and price. The indicator plots the standard stochastic oscillator and marks the upward turning points with green dots and downward turning points with red dots. This gives added visual advantage while viewing the stochastic indicator.

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cycle

The Stochastic Cycle Indicator shows the turning points in the stochastic indicator. This is useful for identifying divergence between the indicator and price. The indicator plots the standard stochastic oscillator and marks the upward turning points with green dots and downward turning points with red dots. This gives added visual advantage while viewing the stochastic indicator.

Stochastic oscillator is used to identify overbought/oversold market conditions. It is also used to trade divergence between oscillator and price. The stochastic cycle indicator provides better visual representation with the dots marking the turning points.

The Stochastic Oscillator parameters can be customized in the VTL editor. Double click on the Indicator name in Navigator, and the script is opened with VTL editor. Modify the parameter values located at the top of the script. Save, compile and apply to chart. The only parameter available is “periodLength” Which determines the number of bars to display the oscillator with turning points marked.

Usually values above 70 is considered as overbought. When a red dot appears above 70, the interpretation is that the upward move is losing momentum. When it is below 30 and green dot appears, the down move is losing momentum. A divergence trade example is marked in the chart.

Additional information

Plugin-Type

Client VTL – Custom Indicator

Compatibility

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