πStoch Wave
The Stoch Wave is a fast-response stochastic line that tracks real-time price movement within the current cycle. It tells you where price is relative to its recent range.
How to read it:
Stoch Wave rising (bullish color)
Price is moving up within the cycle
Stoch Wave falling (bearish color)
Price is moving down within the cycle
Above 80 (Overbought zone)
Price has extended to the upside β potential pullback
Below 20 (Oversold zone)
Price has extended to the downside β potential bounce
Stoch Wave Crossovers
When the Stoch Wave changes direction, a small dot appears on the line:
π’ Green dot = Bullish crossover (potential buy signal)
π΄ Red dot = Bearish crossover (potential sell signal)
Overbought / Oversold Zones
When enabled, the indicator highlights:
Red shaded area above 80 β Overbought territory
Green shaded area below 20 β Oversold territory
Key Insight: The most powerful Stoch Wave signals occur when a crossover happens inside an overbought or oversold zone. A bullish cross below 20 or a bearish cross above 80 is a classic mean-reversion setup.
Settings
Show Stoch Wave β Toggle the stochastic line
Show Stoch Wave Crossovers β Display crossover dots
Highlight Overbought/Oversold Areas β Shade the extreme zones
Colors β Customize bull/bear and OB/OS zone colors
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