This is one of my favorite indicators and it has everything what there is to Stochastic and Stochastic RSI.
The TJ-Stoch is a heavy mod and merge of Stochastic and Stochastic RSI.
There are some very important modifications on it.
- The green and red line at 40 and 90 points.
The stochastic lines like getting rejected at both lines. A rejection at the 40 point line, from above or from below, mostly has an impulse move to it. The same applies to the 90 point line. The 90 point line nevertheless, has mostly an impulse move, when it is getting crossed down. The stochastic lines staying above the 90 point line, are an indication for upcoming impulse moves.
- The lines itself The stochastic lines have their original colors; blue for K , the faster moving line and orange for D the slower moving line. Nevertheless, you can identify the original colors only, when those are ascending. When the K and the D line are descending, those turn red, so you can immediately see what move is what and where it is actually descending or ascending.
- The crosses One of the most important treats that Stochastic and Stochastic RSI have, are the crossovers. Sometimes these are hard to identify. Therefore, a crossover is marked with a green cross at the top. A cross-down is marked with a red cross at the top.
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