MHIDa Stochastic %K Re-Cross Pullback
MHIDa Stochastic %K Re-Cross Pullback marks the moment the Stochastic %K turns back up out of the oversold zone, but ONLY while price is inside an uptrend. It is a context tool to help you look at a classic pullback inside a rising trend. It is not a trading signal and not financial advice.
WHAT IT DOES
The oscillator pane shows %K (blue) and %D (orange) with an oversold level, an overbought reference and a middle line. When %K was oversold and starts to rise again while the trend filter is bullish, a green circle labelled re-cross appears. If the same turn happens without an uptrend, only a small grey triangle is drawn: it is neutral context, not a pullback inside a rising market.
HOW IT IS CALCULATED
1) Raw %K = position of the close inside the high-low range of the last K bars (ta.stoch). %K is that value smoothed with a simple moving average; %D is a simple moving average of %K. Defaults: K 14, smoothing 3, D 3, oversold 20.
2) Re-cross, two selectable modes. Mode 1 (K crosses level): %K was below the oversold level on the previous bar and now crosses back above it. Mode 2 (K crosses %D in low zone): %K crosses above %D while it is still below oversold + 5.
3) Uptrend filter: close above a long EMA (default 50) and, optionally, the EMA higher than on the previous bar. A re-cross is highlighted only if this filter is true. The filter can be switched off in the settings.
WHY THE PIECES ARE COMBINED
An oversold reading alone is common in falling markets and often means nothing. The trend filter removes oversold turns that happen against the larger direction, so the highlighted moments are the ones where the oscillator unwinds while the structure stays bullish.
HOW TO USE IT
Add it to any symbol and timeframe. Each green circle is a place to go and evaluate with your own analysis (structure, volume, levels, risk). Defaults are starting points, not optimal values: change the lengths, the oversold level, the EMA and the re-cross mode and watch how the marked moments change. The markers are drawn only on standard chart types (not on Heikin Ashi, Renko, Kagi, Point and Figure or Range charts). The indicator does not repaint past markers once a bar is closed; the last bar updates in real time as usual.
DISCLAIMER
Educational context tool. Oscillators alone are not enough and nothing here is a promise of results. Every decision is yours.
WHAT IT DOES
The oscillator pane shows %K (blue) and %D (orange) with an oversold level, an overbought reference and a middle line. When %K was oversold and starts to rise again while the trend filter is bullish, a green circle labelled re-cross appears. If the same turn happens without an uptrend, only a small grey triangle is drawn: it is neutral context, not a pullback inside a rising market.
HOW IT IS CALCULATED
1) Raw %K = position of the close inside the high-low range of the last K bars (ta.stoch). %K is that value smoothed with a simple moving average; %D is a simple moving average of %K. Defaults: K 14, smoothing 3, D 3, oversold 20.
2) Re-cross, two selectable modes. Mode 1 (K crosses level): %K was below the oversold level on the previous bar and now crosses back above it. Mode 2 (K crosses %D in low zone): %K crosses above %D while it is still below oversold + 5.
3) Uptrend filter: close above a long EMA (default 50) and, optionally, the EMA higher than on the previous bar. A re-cross is highlighted only if this filter is true. The filter can be switched off in the settings.
WHY THE PIECES ARE COMBINED
An oversold reading alone is common in falling markets and often means nothing. The trend filter removes oversold turns that happen against the larger direction, so the highlighted moments are the ones where the oscillator unwinds while the structure stays bullish.
HOW TO USE IT
Add it to any symbol and timeframe. Each green circle is a place to go and evaluate with your own analysis (structure, volume, levels, risk). Defaults are starting points, not optimal values: change the lengths, the oversold level, the EMA and the re-cross mode and watch how the marked moments change. The markers are drawn only on standard chart types (not on Heikin Ashi, Renko, Kagi, Point and Figure or Range charts). The indicator does not repaint past markers once a bar is closed; the last bar updates in real time as usual.
DISCLAIMER
Educational context tool. Oscillators alone are not enough and nothing here is a promise of results. Every decision is yours.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.