Found this indicator in the Kevin archive. Interesting combination of 2 indicators : a digital stochastic and a “vortex” indicator which is quite similar to a Wilder’s DMI which tell you the current price direction and where it is expected to continue. As for the digital stochastic, it is likely to show where the price is too far from its mean and would return to the opposite side.
So if the “vortex +” is above the “vortex -“, the digital stochastic should give a long trade signal if it crosses the -0.7 “oversold” level. And the opposite conditions for a short trade signal.
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///////////////digital stochastic c1 = highest[14](high) c2 = lowest[14](low) fastk = ((close - c2) / (c1 - c2) ) * 100 slowk = average[3](fastk) if (22* slowk + 8* fastk) / 30 > 50 THEN sum = 1 else sum= -1 endif d1 = exponentialaverage[5](sum) if d1 > d1[1] then e=d1 f=1 endif if d1<d1[1]then e=d1 f=-1 endif /////////VORTEX MM type //////////////////////////////////////// //variable p=péride --par défaut 14 //variable t = MMtype --par défaut simple (Original) p = 14 t=1 VP=abs(high -low[1]) VM=ABS(low-high[1]) VPS=average[p,t](VP) VMS=average[p,t](VM) VTR=TR(close) VTRS=Average[p,t](vtr) if VTRS <>0 then VORP=VPS/VTRS VORM=VMS/VTRS endif ///////////////////////////////////////////////////////////////////////////////// return e coloured by f as "digitale stochastic",0 AS "Zero",0.7 AS "Upper Zone",-0.7 AS "Lower Zone",VORP as "Vortex+",VORM as "Vortex-" |
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Hi Nicolás do yo know which are the better parameters for timeframe daily?
Or in weekly??
I don’t know, you should make your own studies.
Ok thanks Nico