lordpepe

LordPepe Stochastic Signals

This is the Lord Pepe. Howdy. Basic buy/sell indicator to accumulate along a downtrend and release your stack during the uptrend and oversold levels of the stochastic . The buys should be used to stack, and sells indicate levels of profit taking, they do not signal a long term reversal, only < 25% of stack should be released on "OB" signals.

OB - overbought (sell)
OS - oversold (buy)
Versionshinweise: What's crackin', so this will be a revised version of the stochastic signals I recently posted. This update includes better options for buy/sell shapes and a new function you can use to identify potential uptrends. The correlation coefficient is taken from John F Ehlers and a link to the paper can be found at the bottom of this post.

A trend is identified with the correlation factor when the line is showing +/- 0.5 - 20 bar history is found to work the best for any time-frame.
Signals for stochastic buy and sells should be used for accumulation and distribution of a trading position. They are not signals for long term reversals and they should be used in tandum with the time-frame they were given on.
Ex. Time Frame Trade Periods: 1hr (BUY) - 5hr hold (estimate) - 1hr (SELL)

Stochastic settings work best as (8, 3, 3) or (14, 3, 3).

To use correlation feature, remove the comments in the source code. Although, I would read the paper or look at how the signal is produced.

John F Ehlers (I cannot post links yet): Google John F Ehlers Correlation as a Trend Indicator
Versionshinweise: Just cleaned up some code I haven't figured out how to use and updooted the selling signal.

The signals are quite easy but have, imo, proven to show strong sings of volume/reversal (buying/selling) zones. The settings for stochastic should not be changed as the (8, 3, 3) intervals are perfect and are used quite largely in banking. I'll be updating this more as to test strategies and give more clear alerts for automation.
Versionshinweise: Small update for fractional selling signal verse whole position.

The whole position flag should just be used as a tool along with any other confirmations you have as its only indicating extremely overbought or oversold levels and these conditions may persist for another bar or two.

Use 4hr time frames from what I've seen works best. These signals can be used in the complete opposite way during downtrends, meaning you would short the sells and buy, obviously.
Versionshinweise: What up. I have added a volatility line and Lelec by inSilico. I hope you all enjoy, lmk if you have any recommendations.

- Continue to use stoch (8, 3, 3) with 4hr time frame
- Use the line as a volatility indicator, usually the sell signal will occur before it breaks (ikr) but just to be sure if you're trading watch if it breaks, and reconfirms the line.
Versionshinweise: New features are just being able to adjust which time frame you want signals to print on the screen while having another time frame on.
So,
- You can have 1hr time frame with 2hr signals
- Play around with it to see

I suggest using whatever timeframe to below the signal queues to see how they act as resistances
Versionshinweise: Bug fix
Versionshinweise: Another one
Versionshinweise: Updoot
Versionshinweise: You can change the Signal Type to give you more or less.
Versionshinweise: Fixed some bugs, added Bollinger bands.
- You can turn things off in the settings menu, these additional features are for people without PRO and who like to use more than tradingview allows
Versionshinweise:
  • - You can now choose your own signals to produce for whatever asset
    - Use stochastic, rsi, money flow indicator, and this one to search for your signals (try things out)
    - Higher time frames work best but lower ones can be tuned with time.
    - Heikin Ashi produces very good signals for PURPLE/ORANGE signals but loses Lelec (ill fix this)
Open-source Skript

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