Double Stochastic is use 2 Stochastic for monitoring price swing. Slow Stochastic (21,3,3) for monitoring the swing of price cycle. Fast Stochastic (5,1,1) for monitoring the swing in price ripple.
When 2 Stochastic run way from each other, separately , mean Price will move only retrace or rebound in ripple movement. When 2 Stochastic Flip and Run break thru from overbought or oversold zone , mean Price will move to change in major direction
Useful for decision to hold position or take action
Such as Price move up and start decline, Slow Stochastic run above 80 and only Fast Stochastic swing down, mean Price just move retrace down. Price still has chance to flip and move up again. This will help we hold the Long Position or know where to open more Long position on price dip.
Or Price break down to support line and start rebound , Slow Stochastic run below 20 and only Fast Stochastic Swing Up , mean Price just move rebound to go down again. This will help we can hold Short Position or know where to open more Short position.
so red and blue are Slow Stochastic and yellow is Fast Stochastic?
WaveRiders
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Yes ..
Slow ( 21,3,3) , %K = Blue , %D = Red
Fast (5,1,1) %K = Yellow , %D =%K
stanketa
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@WaveRiders, I noticed that that swings can be used as accumulation or distribution tactics for example failed new high swing means sell or new low means buy. Am I right?
SumitJain
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good impressive..
best to use with renko candles...
thanks.
SanRoy
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Thnks , this what looking for. just changed setting 35,10,1 and 7,3,3 .almost like Buffy bline (dacharts.org)