Recruitment of participants Stochastic Divergence Indicator all-in-one package

Stochastic Divergence Indicator all-in-one package

No matter what kind of strategy you have, timing is one of the most important elements in trading.
Everyone wants to be one step ahead of the game. But how and is it even possible?

A lot of traders rely on Stochastic indicator and most of them spend their day to stare at the charts for hours and waiting for Stochastic divergence to happen on current bar. Experienced traders can manage to follow multiple charts at the same time, if you are one of them, you know you have been doing this for years.

Now, imagine an indicator can automatically generate a sound alert whenever there is an Stochastic Divergence on the chart, if you are away from your computer it can even send you a SMS. This is one step ahead of others.

If you need to watch dozens of symbols at the same time, the chart indicator cannot give signals for all of them unless you open dozens of charts which obviously not an option. In order to get Divergence signals for all symbols in your watchlist, the Stochastic Divergence Custom Quotes is your best solution. It's capable to show Divergence signals in all timeframes you chose with separate columns. This is another step ahead of others.

If you don't want to wait for the signals to appear on watchlist, the Stochastic Divergence SCAN makes it possible for you to search the whole market with Stochastic Divergence together with any other criteria you like to add.

With these three products together, you are a few steps ahead of others.

This Stochastic Indicator all-in-one package for Thinkorswim includes:
1.Stochastic Divergence indicator
2.Stochastic Divergence signals Custom Quotes
3.Advanced Stochastic Divergence SCAN

1.Stochastic Divergence indicator

Stochastic Divergence indicator gives possible reversal signals when there are discrepancies between Stochastic and price movement.

Divergence emerges when price and oscillator indicator move in different directions.

For instance, an uptrend Negative Divergence occurs when price reaches a higher high, but the indicator fails to follow. In a downtrend, positive divergence occurs when price reaches a lower low, yet the indicator does not reach a lower low.
For the most part, oscillator indicators and price trailing each other and move in the same direction. However, when they start to drift apart, the current trade may consolidate or exhibit a reverse pattern.

Features:

1. Alert: provide both sound and message alert whenever a divergence is found. You can turn it on or off.
2. Length 1&2: Define the range of bars which are used to calculate the recent High and previous High, as shown in picture.
3. Stoch _mode: Choose "Upper" to only plot signal arrows on price chart.
   Choose "lower" it will plot as a Stochastic indicator with divergence signals.
4. Percent: The difference between High1 and High2, as shown in picture.
5. Stoch_Percent: The difference between Stochastic 1 and Stochastic 2, as shown in picture.
6. All Parameters of Stochastic : Adjust the inputs of Stochastic indicator.

How to use:
The purpose of divergence indicator is to point when price trend are moving into opposite direction.

Negative divergence:
First of all, we need to locate the recent High1 and its Stochastic 1 value within the given range(lenght1).
Secondly, we find the previous High2 and its Stochastic 2 value within the given range(lenght2).

Then we compare the ratio of these 2 Highs and Stochastic values to determine if they meet the percentage you set.



For example, if you set "percent=3", then it will check if High1 is greater than High2 by 3%. If you set "Stoch_percent=5" then it will check if Stochastic 1 is less than Stochastic 2 by 5%.
If both percent conditions are met, there will be a red arrow pointing downward.

Positive divergence:
The indicator will find the recent Low1 and its Stochastic 1 value within the given range(lenght1).
And then it will find the previous Low2 and its Stochastic 2 value within the given range(lenght2).

If you set "percent=1", then it will check if Low1 is less than Low2 by 1%. If you set "Stoch_percent=5" then it will check if Stochastic 1 is greater than Stochastic 2 by 5%.

If both percent conditions are met, there will be a green arrow pointing upward.



Please note: in order to plot this indicator on both price chart and lower chart, you need to load it in two places. And set Stochastic _mode to "Upper" in Price chart and Stoch _mode to "lower" in Lower chart. As shown in the following picture.

If you want the same signals on both charts, all parameters have to be consistent on both sides.



This indicator works in any time period and applicable for all securities(Stocks, Futures, Forex, Options,ETF, etc.).
When you use this indicator in minute chart, it's better to set "percent" less than 1, otherwise, lots of signals will be filtered.

2.Stochastic Divergence signals Custom Quotes

This custom study will help you to quickly identify the Stochastic Divergence signals in the Watchlist.
It will detect all Positive/Negative (bearish/bullish) Stochastic Divergence based on your settings.

Features:

• 
  
  • You can change all Stochastic parameters:
    • length: The number of bars used to calculate the Stochastic.
    • price: The price used to calculate the Stochastic.
    • average type: The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.
  • Length 1&2: Define the range of bars that used to calculate the recent High and previous High, as shown in picture.
  • Percent: The difference between High1 and High2, as shown in picture.
  • Stochastic_Percent: The difference between Stochastic1 and Stochastic2, as shown in picture.
  • Available in all time periods and Applicable for all securities.
  • You can set multiple columns to display prices in various time periods.
  • Sorting the list based on your own preferences.

3.Advanced Stochastic Divergence SCAN

This customized scanner will find all Positive/Negative (bearish/bullish) Stochastic Divergence based on your settings.

This Advanced scanner is specially made for experienced traders.

For example, you can search Stochastic Divergence signals in a short range, such as 15 bars(applicable to any time period).

You can also search in a long range, such as 60 or 100 bars. Furthermore, you can specify the percentage of price change between 2 Highs and the percentage of Stochastic value change which are used to find the Divergence.

It makes possible to scan on very complex conditions.

Example 1, scan Negative (bearish) Stochastic Divergence if current High is the peak within 15 bars, and it's 5% greater than the peak from 25 bars ago. At the same time, the current Stochastic value is 8% less than the Stochastic value of that peak from 25 bars ago.

Example 2, scan Positive (bullish) Stochastic Divergence if current Low is the trough within 5 bars, and it's 3% less than the trough from 15 bars ago. At the same time, the current Stochastic value is 10% greater than the Stochastic value of that trough from 15 bars ago.

Features:

• 
  
  • You can change all Stochastic (Relative Strength Index) parameters:
    • length: The number of bars used to calculate the Stochastic.
    • price: The price used to calculate the Stochastic.
    • average type: The type of moving average to be used in calculations: simple, exponential, weighted, Wilder's, or Hull.
  • Length 1&2: Define the range of bars which are used to calculate the recent High and previous High, as shown in picture.
  • Percent: The difference between High1 and High2, as shown in picture.
  • Stochastic_Percent: The difference between Stochastic1 and Stochastic2, as shown in picture.
  • Scan in many time frames, 5mins, 15mins, 30mins, 1 day, 1 week, 1 month.
  • Applicable for all securities(Stocks, Futures, Forex, Options,ETF, etc.).