OPEN-SOURCE SCRIPT
Stochastic Oversold / Overbought Multi Time Frame on Candle

At the suggestion of a friend, I prepared this educational indicator to show how to use a Multi time frames on the chart based on the color of The Candle.
This Script calculates the stochastic oscillator for multiple timeframes and displays the overbought/oversold signals on the chart with color coding.
The stochastic oscillator is a momentum indicator that compares a security's closing price to its high-low range over a set number of periods. The indicator oscillates between 0 and 100, with readings above 80 considered overbought and readings below 20 considered oversold.

The indicator has the following input parameters:
%K Length: the number of periods used to calculate the stochastic oscillator (default is 14).
%K Smoothing: the number of periods used to smooth the stochastic oscillator (default is 1).
Three timeframes: The timeframes for which the stochastic oscillator is calculated can be set as 15-minute, 1-hour, or 4-hour intervals. For each timeframe, the user can choose to display the indicator (or not) and set the color of the candle. The user can also set the overbought and oversold levels (default is 80 and 20, respectively).
The indicator calculates the stochastic oscillator using the ta.stoch function from the built-in ta library in PineScript. It then uses the ta.sma function to smooth the stochastic oscillator if specified. Finally, the indicator uses the TimeframFuction to calculate the stochastic oscillator for different timeframes, which is then displayed on the chart using the barcolor function. The color of the candle is set based on whether the stochastic oscillator is overbought or oversold, as determined by the overbought/oversold levels specified by the user.
Note: This code is example for you to use multi timeframe in your indicator or Strategy , also prevent Repainting Calculation
This Script calculates the stochastic oscillator for multiple timeframes and displays the overbought/oversold signals on the chart with color coding.
The stochastic oscillator is a momentum indicator that compares a security's closing price to its high-low range over a set number of periods. The indicator oscillates between 0 and 100, with readings above 80 considered overbought and readings below 20 considered oversold.
The indicator has the following input parameters:
%K Length: the number of periods used to calculate the stochastic oscillator (default is 14).
%K Smoothing: the number of periods used to smooth the stochastic oscillator (default is 1).
Three timeframes: The timeframes for which the stochastic oscillator is calculated can be set as 15-minute, 1-hour, or 4-hour intervals. For each timeframe, the user can choose to display the indicator (or not) and set the color of the candle. The user can also set the overbought and oversold levels (default is 80 and 20, respectively).
The indicator calculates the stochastic oscillator using the ta.stoch function from the built-in ta library in PineScript. It then uses the ta.sma function to smooth the stochastic oscillator if specified. Finally, the indicator uses the TimeframFuction to calculate the stochastic oscillator for different timeframes, which is then displayed on the chart using the barcolor function. The color of the candle is set based on whether the stochastic oscillator is overbought or oversold, as determined by the overbought/oversold levels specified by the user.
Note: This code is example for you to use multi timeframe in your indicator or Strategy , also prevent Repainting Calculation
开源脚本
本着TradingView的真正精神,此脚本的创建者将其开源,以便交易者可以查看和验证其功能。向作者致敬!虽然您可以免费使用它,但请记住,重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神,此脚本的创建者将其开源,以便交易者可以查看和验证其功能。向作者致敬!虽然您可以免费使用它,但请记住,重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。