This is my favorite indicator and I have used it in Tradingview and eSignal but cannot find a TOS study anywhere. Does anyone have the script for this for TOS? Thank you
DoubleSmoothedStochastic is standard in ToS
# version of Bressert double
# decides bar color
#lines are colorizzed
declare lower;
input N_Period = 8;
input R_Period = 13;
def Ln = Lowest(low, N_Period);
def Hn = Highest(high, N_Period);
def EMA_r = ExpAverage(close, R_period);
def Y = ((close - Ln)/(Hn - Ln)) * 100;
plot X = ExpAverage(Y, R_period);
x.SetPaintingStrategy(PaintingStrategy.LINE);
x.SetLineWeight(3);
x.AssignValueColor(if x < x[1] then Color.red else if x > x[1] then Color.green else Color.white);
x.SetDefaultColor(GetColor(8));
def Lxn = Lowest(x, n_period);
def Hxn = Highest(x, n_period);
def DSS = ((X - Lxn)/(Hxn - Lxn)) * 100;
plot DSSb = ExpAverage(Dss, R_period);
DSSb.SetPaintingStrategy(PaintingStrategy.LINE);
DSSb.SetLineWeight(2);
DSSb.AssignValueColor(if DSSb < DSSb[1] then Color.red else if DSSb > DSSb[1] then Color.green else Color.white);
plot DSSsignal = DSSb[1];
#DSSsignal.setdefaultcolor(color.MAGENTA); original
DSSsignal.SetPaintingStrategy(PaintingStrategy.LINE);
DSSsignal.SetLineWeight(2);
DSSsignal.AssignValueColor(if DSSsignal < DSSsignal[1] then Color.magenta else if DSSsignal > DSSsignal[1]
then Color.green else Color.white);
x.SetDefaultColor(GetColor(8));
plot FiftyLine =50;
fiftyLine.setdefaultColor(color.gray);
fiftyline.setlineweight(1);
plot Overbought = 80;
overbought.setdefaultColor(color.RED);
overbought.setlineweight(2);
plot Oversold = 20;
oversold.setdefaultColor(color.GREEN);
oversold.setlineweight(2);
#input PriceColor = No;
#assignPriceColor(pricecolor and
# if x > x[1] then Color.GREEN
# else if x < x[1] then Color.RED else Color.WHITE);
The Bressert BLine The Bressert BLine is an RSI based indicator designed to identify trading cycles in all time frames. It turns somewhat slower than the Bressert Double Stochastic, but has a higher accuracy in identifying trading cycle tops and bottoms. The Double Stoc Buy/Sell signal averages about 70% across all times frames; the BLine averages better than 80% across all time frames. At times the Bressert BLine will generate a Setup Bar/Entry signal at the same time as the Double Stoc. At other times, it will generate a Setup Entry signal following the Double Stoc, confirming the Double Stoc signal. | |
The BLine plots in the oscillator sub-graph of the chart. |
no but it does sound interesting
The Bressert BLine
The Bressert BLine is an RSI based indicator designed to identify trading cycles in all time frames. It turns somewhat slower than the Bressert Double Stochastic, but has a higher accuracy in identifying trading cycle tops and bottoms. The Double Stoc Buy/Sell signal averages about 70% across all times frames; the BLine averages better than 80% across all time frames.
At times the Bressert BLine will generate a Setup Bar/Entry signal at the same time as the Double Stoc. At other times, it will generate a Setup Entry signal following the Double Stoc, confirming the Double Stoc signal.The BLine plots in the oscillator sub-graph of the chart.
Anyone familiar with this?
I thought so also considering the signal accuracy for those that use stochasticsno but it does sound interesting
Caveman, would you be so kind as to comment on how do you use it?Rango,
My limited understanding is that there are two primary DSS's used - one by Blau and one by Bressert... The best explanation I can give you is these two links...
1. Cuz I hate typing... and am bad at it... and
2. All I know is that the Bressert one was recommended to me by a close friend who I trust and seems to know what he's talking about... I've been using it consistently - and can't tell if it's any better than the Blau model - give 'er a shot and see what you think...
Bressert: https://www.lizardindicators.com/in...llators/double-smoothed-stochastics-bressert/
Blau: https://www.lizardindicators.com/in...-indicators/double-smoothed-stochastics-blau/
Sorry I don't have a simple answer to your question... that's all I got! GL!
Caveman
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