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KDJ Indicator

Dreadblitz  
Oscillators Centered Oscillators Moving Averages Bullish Patterns Bearish Patterns buysignal sellsignal buy SELL
1100
7
oscillator centeredoscillator movingaverage bullish bearish buysignal sellsignal buy sell
The KDJ indicator is derived from the Stochastic with the one difference being the addition of the J line. This implies that the KDJ indicator has a total of three lines; %K%D%J. The %J is simply put, the difference between the %K and the %D lines, which is similar to the MACD.

The difference between the %J and that of the MACD is that it is plotted as a histogram and the second being that the value are weighted and as such delivers more emphasis on the shorter term %K line.

What we now have is a line that moves quite slowly and has the knack to move beyond the range of a normal stochastic indicator.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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