Work description
The MA7 Lavender indicator is based on the standard Stochastic Oscillator indicator. It shows the intersection of the main and signal lines in overbought and oversold zones.
Work features
The indicator works on the instrument and timeframe on which it is installed. The data is analyzed on closed candlesticks, so the arrows are not redrawn.
Additional functions
Alerts when arrows appear.
Indicator settings
General settings
%K period
This is the main line of the indicator, expressing where the current closing price is relative to the maximum and minimum values for the selected period. The indicator is considered overbought (sell signal) if %K is greater than 80, oversold (buy signal) if %K is less than 20.
Measured in candles.
The parameter value must be greater than 0.
%D period
This is a smoothed %K line, usually calculated as a simple moving average of the values of the %K line. The %D line is smoother and is used to confirm the signals of the %K line.
Measured in candles.
The parameter value must be greater than 0.
Slowing
It is used to smooth the %K line, making the indicator less noisy and more suitable for analyzing long-term trends.
Measured in candles.
The parameter value must be greater than 0.
Method
The type of averaging for smoothing the %D line. The options are Simple, Exponential, Smoothed, and Linear weighted.
Price field
The type of price that the %K line is calculated on. Options: High/Low (maximum/minimum), or Close/Close (closing price).
Upper level
The upper level (overbought level), above this level is the overbought zone, the intersection of the main %K and signal %D lines in this zone can serve as a sell signal.
The parameter value must be greater than 0.
Lower level
The lower level (oversold level), below this level is the oversold zone, the intersection of the main %K and signal %D lines in this zone can serve as a buy signal.
The parameter value must be greater than 0.
Message settings
Send message to the terminal (Alert)
The parameter gives permission to send messages to the terminal using the Alert function.
Send message to the mobile terminal (Push)
This parameter gives permission to send messages to the mobile terminal using push notifications. The permission to send messages should be enabled in the terminal settings, read the instructions.
Send message to the email
This parameter gives permission to send messages by email. The permission to send messages should be enabled in the terminal settings, read the instructions.
Additional information
The parameter specifies additional information about the indicator so that the user can distinguish which program sent the message. The information is displayed in the message header.
Example: you have set two indicators on the same instrument and on the same timeframe with different parameters. One indicator has a period of 10, the other has a period of 30. To understand which indicator sent the message, you need the Additional information parameter, you can specify, for example, the period that the indicator uses as additional information. then you will see in the message which indicator sent the message.
Arrow display settings
Arrow shift
This parameter adjusts the vertical displacement of the arrows on the graph.
Arrow size
This parameter adjusts the size of the arrows.
Up arrow color
This parameter adjusts the color of the up arrows.
Down arrow color
The parameter adjusts the color of the down arrows.
Up arrow code
The parameter adjusts the code of the up arrows.
Down arrow code
The parameter adjusts the code of the down arrows.
Calculation formula
For the up arrows: Main1 > Signal1 and Main2 < Signal2 and Main1 < LowerLevel and Signal1 < LowerLevel,
For the down arrows: Main1 < Signal1 and Main2 > Signal2 and Main1 > UpperLevel and Signal1 > UpperLevel, where
Main1 – the value of the %K main line with a candle index of 1 (the last closed candle),
Signal1 – the value of the %D signal line with a candle index of 1 (the last closed candle),
Main2 – the value of the %K main line with a candle index of 2 (penultimate closed candle),
Signal2 – the value of the %D signal line with a candle index of 2 (penultimate closed candle),
UpperLevel – upper level (parameter in settings),
LowerLevel – lower level (parameter in settings).
The condition for displaying the up arrows
The main line crossed the signal line from bottom to top, the cutoff is below the lower level.
The condition for displaying the down arrows
The main line crossed the signal line from top to bottom, the cutoff is above the upper level.
MA7 Lavender indicators
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