iamaltcoin

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
    _bcwsma

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)

Comments

hello everyone...thanks for your script iamaltcoin
just needed a little help...i was wanting to use the kdj indicator the way kocurekc used it...ive been trying to find it on tradingview but its not in the public library....could you please help me out in finding out how to use it...??
+7 Reply
Thanks for your script.
+2 Reply
thank you , but I have a question , how can I use debug?
+1 Reply
Can I use your KDJ Indicator Code On my website? please help me how to do access your code in my website on local?
Reply
Thank you for sharing your KDJ script. Here are two more versions:

by kocurekc



by liw0


Reply
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 :)
Reply
:D
Reply
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.

Reply
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.
+1 Reply
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