OPEN-SOURCE SCRIPT
Enhanced Stochastic & RSI Oscillator by TitikSona
DESCRIPTION:
This indicator enhances the classic Stochastic RSI concept by implementing a multi-timeframe and multi-parameter approach to generate more reliable trading signals. Unlike simple indicator mashups, this tool is designed with layered confirmation logic that integrates four different Stochastic timeframes with dual RSI periods.
KEY FEATURES & CONCEPTS:
Multi-Timeframe Stochastic Analysis
Stochastic 1 (12,3,20): Short-term signals
Stochastic 2 (100,8,8): Long-term trend context
Stochastic 3 (14,3,3): Medium-term confirmation
Stochastic 4 (8,3,3): Ultra-short term movement detection
Dual RSI Confirmation System
RSI 26-period: Smooth signals for main trend identification
RSI 9-period: Fast reactions for precise entry timing
Intelligent Signal Logic
Signals are generated based on comprehensive conditions rather than single overbought/oversold levels, incorporating:
Multiple Stochastic convergence
Dual RSI filtering
Bullish/Bearish cross validation
Strength-based classification (Strong/Medium/Weak)
HOW IT WORKS:
The indicator analyzes convergence across four different Stochastic oscillators representing various timeframes. Signals are only generated when at least three of the four Stochastics show aligned conditions, filtered through dual RSI confirmation, and validated with appropriate crossovers.
USAGE GUIDE:
Strong Signals (High Probability): Bright green/red colors - for high-confidence entries with strict confirmation
Medium Signals (Balanced Approach): Standard colors - for normal trading with proper risk management
Weak Signals (Early Warning): Muted colors - as early alerts for potential movements requiring additional confirmation
COMPARATIVE ADVANTAGE:
Unlike similar indicators that simply combine two oscillators, our multi-timeframe approach reduces false signals by ensuring confirmation from various trading perspectives. The integrated strength classification logic helps traders align signals with their individual risk tolerance and trading style.
RISK DISCLAIMER:
Like all technical indicators, this tool does not guarantee profits. Past performance does not guarantee future results. Always employ proper risk management strategies and use additional analysis for confirmation. Trading financial instruments carries substantial risk of loss.
CUSTOMIZABLE PARAMETERS:
All Stochastic periods, RSI settings, and signal thresholds can be adjusted through input settings to accommodate various trading styles and timeframes.
EDUCATIONAL VALUE:
This indicator demonstrates the importance of multi-timeframe analysis and layered confirmation in technical analysis, providing educational insights into convergence trading strategies and oscillator synchronization techniques.
This indicator enhances the classic Stochastic RSI concept by implementing a multi-timeframe and multi-parameter approach to generate more reliable trading signals. Unlike simple indicator mashups, this tool is designed with layered confirmation logic that integrates four different Stochastic timeframes with dual RSI periods.
KEY FEATURES & CONCEPTS:
Multi-Timeframe Stochastic Analysis
Stochastic 1 (12,3,20): Short-term signals
Stochastic 2 (100,8,8): Long-term trend context
Stochastic 3 (14,3,3): Medium-term confirmation
Stochastic 4 (8,3,3): Ultra-short term movement detection
Dual RSI Confirmation System
RSI 26-period: Smooth signals for main trend identification
RSI 9-period: Fast reactions for precise entry timing
Intelligent Signal Logic
Signals are generated based on comprehensive conditions rather than single overbought/oversold levels, incorporating:
Multiple Stochastic convergence
Dual RSI filtering
Bullish/Bearish cross validation
Strength-based classification (Strong/Medium/Weak)
HOW IT WORKS:
The indicator analyzes convergence across four different Stochastic oscillators representing various timeframes. Signals are only generated when at least three of the four Stochastics show aligned conditions, filtered through dual RSI confirmation, and validated with appropriate crossovers.
USAGE GUIDE:
Strong Signals (High Probability): Bright green/red colors - for high-confidence entries with strict confirmation
Medium Signals (Balanced Approach): Standard colors - for normal trading with proper risk management
Weak Signals (Early Warning): Muted colors - as early alerts for potential movements requiring additional confirmation
COMPARATIVE ADVANTAGE:
Unlike similar indicators that simply combine two oscillators, our multi-timeframe approach reduces false signals by ensuring confirmation from various trading perspectives. The integrated strength classification logic helps traders align signals with their individual risk tolerance and trading style.
RISK DISCLAIMER:
Like all technical indicators, this tool does not guarantee profits. Past performance does not guarantee future results. Always employ proper risk management strategies and use additional analysis for confirmation. Trading financial instruments carries substantial risk of loss.
CUSTOMIZABLE PARAMETERS:
All Stochastic periods, RSI settings, and signal thresholds can be adjusted through input settings to accommodate various trading styles and timeframes.
EDUCATIONAL VALUE:
This indicator demonstrates the importance of multi-timeframe analysis and layered confirmation in technical analysis, providing educational insights into convergence trading strategies and oscillator synchronization techniques.
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.