Stocastic Reference Dino

15 May

a technical analysis indicator named "Stocastic Reference Dino," which is a stochastic oscillator used to analyze market trends and potential price reversals.

Key Features:
Inputs:

• K Period (lengthK): Defines the period for the %K line calculation (default 13).
  
• D Period (lengthD): Defines the period for the %D line calculation (default 9).
  
• Smoothing Period (smoothK): Smoothing period for the %K line (default 8).
  
• Low Threshold (lowThreshold): Lower bound threshold for the oscillator (default 10).
  
• High Threshold (highThreshold): Upper bound threshold for the oscillator (default 80).
  

%K Line Calculation:

Calculates the lowest low and highest high over the lengthK period.
Computes the %K value and smooths it using a simple moving average over smoothK periods.
%D Line Calculation:

Calculates the %D line as a simple moving average of the %K line over the lengthD period.
Plotting:

Plots the %K line in blue and the %D line in red on a new pane.
Adds horizontal lines to represent the low and high thresholds, colored green and red, respectively.
This indicator helps traders identify potential overbought and oversold conditions by analyzing the stochastic oscillator lines (%K and %D) relative to the defined thresholds.