B3 Extended Stochastic

27 Nov 2018

B3 Extended Stochastic ~ This is my personal take on the standard "Stochastic Full" study that most platforms natively carry. However, this is slightly more powerful. The simple difference is that in a normal stochastic indicator, 0 and 100 are the minimum and maximum values. Here there is no min/max, hence the title "Extended Stochastic." When extended beyond 0 or 100, this tells you if you're expanding range (breaking out), and often the stochastic turns that are beyond the 0 or 100 lines tend to be more juicy than normal stochastic overage turns. There is still the classic 20/80 over-lines, and they still carry their full validity in this script. Think of extended range as additional information and not a remaking of the indicator. You will find it quite successful in oscillation, but as always, oscillators struggle in long running trends.
~B3
Check out my Tview page for more scripts. :)
tradingview.com/u/HammondB3/