Stochastic Power Meter

zcsoka
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Stochastic Power Meter

Post by zcsoka » Mon Jul 27, 2020 11:30 am

The Stochastic Power Meter is a multi period stochastic based tool, which shows colour coded overbought and oversold regions for 10 different period length.
Please remark, that this tool is displayed in a separate window and not on the chart or in the indicator panel.

The product will be available on the Marketplace shortly.


The settings panel looks like:

SP_Settings.png
SP_Settings.png (89.33 KiB) Viewed 633 times

which enables the following configuration:

(Please do not forget to hit Enter if you change numerical fields)

Bar Interval: The bar interval for the calculation. It is focusing on day traders and scalpers therefore shorter periods are available (1s, 2s, 5s, 10s, 30s, 1m, 5m)
Base Period Length: The base length for the Stochastic calculation. It will be the shortest period used.
Drawing Style: The Drawing Style of the indicator (Box, Rounded, Dots)
Open Window (button): This button will open the power meter in a separate window

What is displayed

The power meter consists of 10 rows. Each row represents a %K stochastic value as a colour coded drawing. The first row is based on the configured parameters, starting from the second the period for the calculation is multiplied by the row number (second row is double period, third row is three times the period, etc.). The top of the power meter shows short term, the bottom  part shows long term stochastic. 
The colour of the power meter changes between red and green gradually. The red represents oversold, the green overbought values. As the values are changing, a gradual colour change will be displayed.

Interpretation

The interpretation of the values are the same as a standard stochastic.

Example

SP_Example.png
SP_Example.png (956.87 KiB) Viewed 633 times