The values of the Stochastic Levels on Chart indicator are calculated using Reverse Engineering calculations starting from default Stochastic formula : 100 * (close - lowest(low, length)) / (highest(high, length) - lowest(low, length)).
I added options for users to define the Extreme Overbought and Oversold values, also simple Oversold and Overbought values of the stochastic, default Extreme Overbought at 100, Extreme Oversold at 0, the 20 for Oversold and 80 as Overbought, plus the middle stochastic level = 50.
The script has included a color coded 20 SMA that will turn red when the 20 SMA is falling and green when it is rising, also there are bollinger bands using 2 standard deviation plus an extra top and bottom bollinger bands with a 2.5 standard deviation.
The users can use Stochastic Levels on Chart along with a simple Stochastic or a Stochastic Rsi indicator, when the price on chart touching extreme levels and Stochastic or Stochastic Rsi K line crossing above or bellow D line users can see on chart the levels where price need to close for getting stochastic overbought or oversold.
In the demo chart we can see at daily stochastic crossed down and the price crossed down all the levels displayed on chart, and same before stochastic was crossing up from oversold and price crossed up the stochastic levels displayed on chart.
In strong bullish moves the Extreme level 100 of the stochastic will be pushed higher, same in a strong bearish move the Extreme Oversold 0 level will be pushed lower, so users need to wait for confirmation of a crossover between K and D lines of stochastic that will signalize a pullback or a reverse of the trend.
For better results you will need to add a dmi or an adx or other indicator that will show you trend strength.
If you have any questions or suggestions to improve the script please send me a PM.
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In this updated I added Multitimeframe Table with stochastic K and D values and RSI, the original code for tabel was based on the work of @Forex_Associate (Abbas Borji), thanks for sharing the code.
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Values displayed on indicators settings from Status line are now hidden for a cleaner look of indicator in Status line
Fixed for few typo errors and removed unused code from indicator
Changed default options for Bollindger bands to be hidden
Added few options to hide/display Bollinger bands and 20 sma
Changed default Bollinger bands colors to be in contrast with other lines, users can change colors and fills for Bollinger Bands from dashboard
Added color trend option for 20 SMA, users can now enable/disable or chose color of 20 SMA
Added option for distance from price for stochastic lines start drawing
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Added Parabolic SAR, users can change colors and show/hide PSAR dots.
Added Stochastic Cross Signals (K and D values settings for table calculation and stochastic length will affect signals, default are 14,3,3).
This is a really great piece of work, thanks for sharing. 😄
GarethSA
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GREAT SCRIPT.
Can i ask for some updates: 1) The same way you have, Labels Distance From Current Price, can you add an option to move the LINE away from price so they not so close to the candles etc.
2) Can you also add label's for the TWO bollinger bands so they show if they 4H and DAILY?
3) Maybe also a option to show both bollingers or just normal one.
4) Also can you make an option to make the 20MA change color or not.
THANKS AGAIN
MisterMoTA
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@GarethSA, done and added also today parabolic sar and stochastic crosses signals