Violent

Stochastic Heat Map

A series of 28 stochastic oscillators plotted horizontally and stacked vertically from bottom to top as the oscillator background.
Each oscillator has been interpreted and the value has been used to colour the lines in.
Lower lines are shorter term stochastics and higher lines are longer term stochastics.

The average of the 28 stochastics has been taken and then used to plot the fast oscillator line, which also has a slow oscillator line to follow.
The oscillator line can be used to colour in the candles.

Inputs:

MA: multiple smoothing methods
Theme: multiple colours
Increment: stochastic length start and increments
Smooth Fast: smooth fast length
Smooth Slow: smooth slow length
Paint Bars: colour candles
Waves: toggle method to weight/increment stochastics

Heat map shows momentum extremes:

Release Notes: Updated legacy code.
Release Notes: Updated colours.
Release Notes: The number of stochastics plotted in the background can now be controlled with the 'PlotNumber' input. This changes the average calculation and allows more control and precision.
Release Notes: Updated fast and slow line width.
Release Notes: Updated colours.
Release Notes: Updated colours.
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Comments

Ok this looks hella cool but can somebody explain to me in plain English how to use this?
+19 Reply
MadMoto29 JNMaven
Also interested to know how the author recommends how to make use of this cool indicator! Great visual/study, but what are the trading implications?
Reply
This publication will be featured in our "Best Scripts of The Month" selection. Thank you for your valuable contribution to the TradingView community, and congrats!
+19 Reply
How do I save/use this script!?
+5 Reply
Anyone knows how to use this?
+4 Reply
Amazing, thanks a lot!
+3 Reply


Stochastic Ribbon:


Moving Average Ribbon:
+3 Reply
Breakout_ Violent
@Violent, great work
+3 Reply
Great script, thanks for the help setting it up.
+1 Reply
Awesome indicator! Quick question @Violet what are your candlestick settings? I'm using Heiken Ashi candles and they look very different from your charts and it's hard to discern the colors.
+1 Reply
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