OPEN-SOURCE SCRIPT
Taught to Trade - Configurable Stochastics
A stochastic oscillator that exposes the parts most versions hide. It plots fast %K, slow %K, and slow %D, and lets you choose the smoothing method — SMA, EMA, WMA, or HMA — instead of forcing plain SMA. Same classic stochastic math, with more control over how it responds.
How to use: Read overbought/oversold levels and %K/%D crosses the way you would with any stochastic. Faster smoothing (HMA/WMA) reacts sooner but produces more false turns; slower smoothing (SMA) is steadier but later. Set your own alerts from the conditions provided.
Where it fails: Stochastics whipsaw in strong trends — they can sit "overbought" while price keeps rising. This is best used as ranging or confirmation context, not as a standalone trigger. Signals evaluate on the bar close and can change intrabar.
Educational tool only. Not investment advice, and it does not send buy or sell signals.
How to use: Read overbought/oversold levels and %K/%D crosses the way you would with any stochastic. Faster smoothing (HMA/WMA) reacts sooner but produces more false turns; slower smoothing (SMA) is steadier but later. Set your own alerts from the conditions provided.
Where it fails: Stochastics whipsaw in strong trends — they can sit "overbought" while price keeps rising. This is best used as ranging or confirmation context, not as a standalone trigger. Signals evaluate on the bar close and can change intrabar.
Educational tool only. Not investment advice, and it does not send buy or sell signals.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.