OPEN-SOURCE SCRIPT
[blackcat] L2 Improved Jeffrey Owen Cyclical System
Level: 2
Background
In Jeffrey Owen Katz's article "Trading stocks with a cyclical system" he introduces the Stock Rhythm System. I found the central part is quite similar to KDJ indicator and I use my own KDJ algo to enhance its performance.
Function
Jeffrey Owen Katz has a customized stochastic indicator. I used it as the engine of my own KDJ trading system. My KDJ oscillator display consists of 3 lines (K, D and J - hence the name of the display) and 2 levels. K and D are the same lines you see when using the stochastic oscillator. The J line in turn represents the deviation of the D value from the K value. The convergence of these lines indicates new trading opportunities. Just like the Stochastic Oscillator, oversold and overbought levels correspond to the times when the trend is likely to reverse. Just as the Stochastic, the KDJ has the K & D lines, plus the J. This last one represents the divergence from the K-line. When all three converge, it usually signals a possible trend forming. Labels and alerts are added for long and short entries.
Key Signal
KVal --> K.
DVal --> D.
JVal --> J.
Remarks
This is a Level 2 free and open source indicator.
Feedbacks are appreciated.
Background
In Jeffrey Owen Katz's article "Trading stocks with a cyclical system" he introduces the Stock Rhythm System. I found the central part is quite similar to KDJ indicator and I use my own KDJ algo to enhance its performance.
Function
Jeffrey Owen Katz has a customized stochastic indicator. I used it as the engine of my own KDJ trading system. My KDJ oscillator display consists of 3 lines (K, D and J - hence the name of the display) and 2 levels. K and D are the same lines you see when using the stochastic oscillator. The J line in turn represents the deviation of the D value from the K value. The convergence of these lines indicates new trading opportunities. Just like the Stochastic Oscillator, oversold and overbought levels correspond to the times when the trend is likely to reverse. Just as the Stochastic, the KDJ has the K & D lines, plus the J. This last one represents the divergence from the K-line. When all three converge, it usually signals a possible trend forming. Labels and alerts are added for long and short entries.
Key Signal
KVal --> K.
DVal --> D.
JVal --> J.
Remarks
This is a Level 2 free and open source indicator.
Feedbacks are appreciated.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
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Haftungsausschluss
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