KDJ Indicator - @iamaltcoin

This indicator is a mimic of the same used by bitcoinwisdom.

There seems to be several different formulas to calculate KDJ, however, i have yet to find this one on tradingview.

The background color is green when J>D and red when J<D. The idea being that when we go green we should buy and when red sell.

Let me know if you have any questions.
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// @author iamaltcoin
// This KDJ indicator is a mimic of the same indicator on bitcoinwisdom
// This script is released free of charge with no warranty
// Please leave a not to the author of this script if it is used
// whole or in part
study("KDJ Indicator - @iamaltcoin", shorttitle="GM_V2_KDJ")
ilong = input(9, title="period")
isig = input(3, title="signal")

bcwsma(s,l,m) => 
    _s = s
    _l = l
    _m = m
    _bcwsma = (_m*_s+(_l-_m)*nz(_bcwsma[1]))/_l

c = close
h = highest(high, ilong)
l = lowest(low,ilong)
RSV = 100*((c-l)/(h-l))
pK = bcwsma(RSV, isig, 1)
pD = bcwsma(pK, isig, 1)
pJ = 3 * pK-2 * pD
plot(pK, color=orange)
plot(pD, color=lime)
plot(pJ, color=fuchsia)

bgcolor(pJ>pD? green : red, transp=70)
Thank you for sharing your KDJ script. Here are two more versions:

by kocurekc
Pine Script, KDJ Indicator, Free


by liw0

iamaltcoin ChartArt
Thanks ChartArt,

I'd found kocurekc's scripts before, as well as J.S's
, which sparked the exploration. most of these scripts are stoch based where as mine is a non stoch based approaches suggested in places such as https://www.amibroker.com/library/detail.php?id=1144 . Thanks for the interest, let me know if you have any other questions :)
+1 Reply
ChartArt iamaltcoin
That's very interesting. I was only aware of Stochastic-based versions of the classic oscillator. I'm glad I commented :)
iamaltcoin ChartArt
ChartArt iamaltcoin
I made a comparison. Your script is MUCH better readable than the one created by kocurekc. Your KDJ signals appears to be slower, but I still prefer your version.

iamaltcoin ChartArt
Thanks for the comparison. It is a little slower than i would like, I'm tempted to release an ena version that is somewhat faster. Though, another way to read the J value might be to have it as an overbought/oversold indicator when it goes >100/<0. This would make up for the slow speed, and be much clearer than Kocurekc's.
ChartArt iamaltcoin
I would LOVE to see a version of your KDJ using EMA. Maybe you can add it as Pastebin to your original indicator post.
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