Bouncer Stochastic — Indicator by CapnOscar

Coded for Bouncer Moving Average timing entries

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Want to use this script on a chart?

study(title="Bouncer Stochastic", shorttitle="BStoch")
length = input(14, minval=1), smoothK = input(3, minval=1), smoothK2 = input(5, minval=1), smoothD = input(8, minval=1)
k = sma(stoch(close, high, low, length), smoothK)
d = sma(k, smoothD)
k2 = sma(stoch(close, high, low, length), smoothK2)
d2 = sma(k2, smoothD)
davg = (d +d2 ) /2

wid = d > d2 and rising(d,1) ? green : d < d2 and falling(d,1) ? red : orange

plot(d, color=green, transp=0)
plot(d2, color=red, transp=0)
plot(davg, color=wid, transp=0, linewidth=2)
h0 = hline(80)
h1 = hline(20)
h2 = hline(48)
h3 = hline(52)