version=5 This version of the stochastic produces the identical stochastic as used in MarketSmith The three primary differences from a classic stochastic are as follows: 1. Close values only 2. 5-day ema instead of 3-day simple moving averages for smoothing the fast and slow lines 3. Slow and fast lines are truncated to integer values
by Mike Scott 2023-09-11
版本注释
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This is an update to a previously published script. The purpose of the script is to replicate the MarketSmith stochastic indicator which is implemented differently than mainstream implementations. The comments section of the code describes the differences. This update is because I noticed that the internal ta.ema() function that computes exponential moving averages behaves differently than I expected. Thus I hand coded the ema algorithm in this update. I believe this update faithfully replicates the behavior of the MarketSmith indicatior.
Fly high my friend! It took a lot of work to reverse engineer the MarketSmith Stochastic. MarketSmith wasn't able to explain what they have. I think it was written 30 years ago.
SmilinDave
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JMIKE: THANKS SO MUCH! I was really stuck until I found your TV indicator for the MarketSmith style stochastic that Floyd with the Alaska IBD group has talked about. Because you're so generous with your work and made it open source, I was able to hack around & adapt this for my needs. With any luck, I'll be flying in a private jet sometime soon. LOL. Thanks again.