Arustysponge Color changing Stochastic

Changes candle color based on thresholds set on stochastic. can be set to day trade swing trade or long trade.

Notes de version

Keep bar collars the same through thresholds

Notes de version

MTF Stochastic Bar Color

This indicator is a highly customizable Multi-Timeframe Stochastic tool designed to highlight momentum breakouts and trend reversals. It allows you to select any timeframe (e.g., Daily) and displays the Stochastic oscillator in a sub-pane while coloring the main chart candles based on the oscillator's behavior.

Core Features & Logic Modes:
It features two distinct operating modes that change how the candles are colored:

15 Minute Mode (Breakout / Extremes):

Green: Candles turn green when the selected Stochastic source (%K or %D) pushes above the Upper Threshold (default 80), signaling strong bullish momentum.

Red: Candles turn red when the source drops below the Lower Threshold (default 32), signaling strong bearish momentum.

Gray: If the Stochastic is anywhere in the middle zone between the thresholds, the candles are explicitly painted Gray to override the chart, signaling a neutral momentum zone.
Daily/Weekly Mode (Trend Reversal):

Green: Candles turn green when the Stochastic is above the Upper Threshold.

Red: Candles turn red when the Stochastic is below the Lower Threshold.

Reversal Tracking (Middle Zone): When the Stochastic is floating between the two thresholds, the candle color strictly follows the direction of the oscillator. If it is pointing up, the candles are Green; if it reverses and points down, they immediately flip to Red.
Additional Settings:

Signal Source Selection: Choose whether the color logic is driven by the faster %K line or the smoother %D line.

Wait for Close: An option to lock the logic to fully closed bars to prevent repainting.

Fully Customizable Thresholds & Timeframes: Adjust the overbought/oversold levels and the MTF resolution to fit any trading style or chart interval.

Script open-source

Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.

ARUSTYSPONGE

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Script open-source

ARUSTYSPONGE