nboone

Stochastic Histogram

Last Edited: 5/19/16

Description:
This is a basic Stochastic histogram that essentially shows when the indicator
is either above or below the 50 level. Colors can be customized to your liking.
Length and smoothing factor can be adjusted as well. Defaults are 14 (Length)
and 3 (Smoothing Factor).


NOTE: The above chart contains the built-in stochastic indicator for comparison.
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/////////////////////////////////////////////////////////////////////////////////////
// Last Edited: 5/19/16                                                            //    
// Created By: nboone                                                              //
//                                                                                 //
// Description:                                                                    //
// This is a basic Stochastic histogram that essentially shows when the indicator  //
// is either above or below the 50 level. Colors can be customized to your liking. //
// Length and smoothing factor can be adjusted as well. Defaults are 14 (Length)   //
// and 3 (Smoothing Factor).                                                       //                
/////////////////////////////////////////////////////////////////////////////////////
study(title="Stochastic Histogram", shorttitle="NB_StochHist")
length = input(14, minval=1)
smoothK = input(3, minval=1)

k = (sma(stoch(close, high, low, length), smoothK) - 50)
c = (k > 0) ? green : (k < 0) ? red : black

plot(k, style=histogram, color=c)
plot(k, color=black)
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