This is just a fun script to give a different representation to the ever popular Stochastic RSI Even for me over the years the stochastic has been a difficult one to use in trading merely because of its choppy look. Since Heikin-Ashi Candles do such a powerful job in smoothing out the look of choppy markets, I decided to test it out on the look of the Stochastic RSI. From an initial visual standpoint it worked out WAY better than I thought but it seemed to need something more. I decided to use the PineScript "Color.From_Gradient" feature to give the Stochastic a more 3 dimensional look, which really brought the "old-school" indicator to life. Description: The CaffeineCrush Momentum Indicator is your ultimate trading companion, blending the invigorating world of coffee with the excitement of market momentum. Just like a finely brewed cup of joe, This indicator provides you with a powerful insight into market dynamics, helping you stay in the trading groove.
As you sip on this caffeinated delight, CaffeineCrush monitors the velocity and strength of price movements, measuring the momentum of the market. But here's where it gets even more enticing – it goes a step further by incorporating a pressure indication, adding a stimulating twist to your trading experience.
Imagine yourself in a bustling coffee shop, surrounded by the aroma of freshly roasted beans and the energetic buzz of conversations. CaffeineCrush mimics that atmosphere, keeping you on your toes, always aware of market forces at play.
With CaffeineCrush, you'll never miss a beat. It identifies and highlights moments of heightened momentum and increased pressure, giving you an edge in capturing profitable opportunities. Just like a perfectly extracted espresso shot, this indicator helps you maintain your trading momentum and navigate the market with confidence.
So, grab your favorite cup of joe, fire up your trading charts, and let CaffeineCrush awaken your trading prowess. Stay in the groove, embrace the buzz, and master the momentum with this flavorful indicator by your side.
Divergence - Regular Divergence shows when there is a conflict between the strength of the trend and the swing of the price movement.
Hidden Divergence - Are to be traded using the same methods as hidden divergences of the MACD or the RSI. A hidden divergence is commonly a trend CONTINUATION move.
Pink Pause - This shows a ranging area where price is taking a pause. It can be a single candle or a string of candles. But histogram with continue with its RED / GREEN colors once the pause is over.
Stocashi + CaffeineCrush is not an entry / exit indicator. It's designed to help you understand: 1. Weather your trend is continuing 2. When it pauses 3. Has your pullback started / ended
Its best used near area of conflict. For example: 1. If you have a breakout to the low side of support zone, and you get a BULLISH divergence, this can be viewed as a false breakout. 2. If you trading towards the opposite area of a range or key level and you get conflicting movement in the Stocashi + CaffeineCrush, then you should take ur profits and wait for the next move. 3. If you are following through with example 2 above, but get NO conflicts, you can immediately look for a secondary take profit area and split / hedge your take profits.
Versionshinweise
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I removed the separation between LEFT and RIGHT lookback for pivots and replaced it with a SINGLE input. Before you would need to place a lookback number for left and right seperatly. Now you just place a single number and it will look backwards and forwards evenly.
Versionshinweise
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Removed the "Timeframe" calculation. Its just not needed here
Color inputs are now user selectable. You can choose the colors you want for "Trend Strength" to show you STRONG BULLISH WEAK BULLISH STRONG BEARISH WEAK BEARISH
Removed plots from the "Settings" tab since they are no longer needed which cleans up the UI a bit.
Code show run a bit faster now.
Versionshinweise
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User has ability to change color of Overbought and Oversold levels as needed.
Versionshinweise
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Added an internal momentum oscillator inside the Stochastic Heiken Ashi as a histogram. This histogram has 4 colors
Strong Bull - This is the sudden push to revers the previous downtrend or previous pullback Weak Bull - This is the momentum created after the strong bull move took place Strong Bear - This is the sudden push to revers the previous uptrend or previous pullback Weak Bear - This is the momentum created after the strong bear move took place.
Ways to use it: RE-entry for long positions; THE LIGHT RED (Weak Bear) - In an uptrend, wait for the first Weak Bear column and mark that closing price. To continue your uptrend you take long positions above that price level.
Re-entry for short positions; THE LIGHT GREEN (Weak Bull) - In a downtrend, wait for the first Weak bull column and mark that closing price. To continue your downtrend you take short positions below that price level.
Histogram settings: "Show Momentum Histogram" You can either show or hide this histogram "Histogram Smoothing" Set the smoothing from 1 - 28. 1 = almost no smoothing. 28 = most smoothing. "Visual Multiplier" Sometimes the histogram is very narrow and hard to see. So you don't have to expand your scale, you can simply adjust the multiplier which will scale up the size of the histogram. This happens without distorting the crossovers.
I don't think traders understand the power of these indicators you're creating. Beast mode! I haven't lost yet! Thanks!
CoffeeshopCrypto
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@MervRich340, THanks very much MV- Youre the beast! IVe seen your live trades. really good work mate
yaniv2000
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very nice. why is "pause" signal only for down trend ? is it posibel to make "pause" signals when the trend is up ?
CoffeeshopCrypto
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@yaniv2000, seems u found a kink in the system my friend. ill have to work on that one
CoffeeshopCrypto
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@yaniv2000, ok found your answer. this is something i actually worked on before releasing it. just went over my notes. TO be honest, the pink only plots on the bottom of the indicator because of the way i calculate the RSI value inside it the momentum. However this does not mean its a pause to the downtrend. Its just a pause to the trend.
Once the pause is over, take a look at the next color of the momentum bar, this is the direction of your trend (the color and type of column after any of the PINK columns)
Youll see sometimes you have a RED column after pink and others youll have a GREEN column after pink. This means the direction after the pause.
cjg1977
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You are the man Eric. Thank you!!!
CoffeeshopCrypto
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@cjg1977, thanks you should see the video im about to do for it too