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Adaptive-Lookback Stochastic [Loxx]

Adaptive-Lookback Stochastic [Loxx] is an adaptive stochastic indicator.
The Adaptive lookback is truly a market-driven period input used to determine the variable lookback period for many different indicators, instead of a traditional, fixed figure.
It is based on the frequency of market swings - the time between swing highs or swing lows. A swing high is defined as two consecutive higher highs followed by two consecutive lower highs; a swing low is defined by two consecutive lower lows followed by two consecutive higher lows. As swing points typically accompany reversals, they occur more frequently in choppier and volatile markets than in trends.
Adaptive lookback period is determined as :
Included
The Adaptive lookback is truly a market-driven period input used to determine the variable lookback period for many different indicators, instead of a traditional, fixed figure.
It is based on the frequency of market swings - the time between swing highs or swing lows. A swing high is defined as two consecutive higher highs followed by two consecutive lower highs; a swing low is defined by two consecutive lower lows followed by two consecutive higher lows. As swing points typically accompany reversals, they occur more frequently in choppier and volatile markets than in trends.
Adaptive lookback period is determined as :
- Determine the initial number of swing points (swing count parameter) to use in the calculation.
- Count the number of price bars it takes for the n swing points to form.
- Divide step 2 by step 1 and round the result.
- As an addition, adjust the "speed" of the produced period using the speed parameter - the smaller the speed parameter, the "slower" the average, and vice versa
Included
- Bar coloring
- Loxx Expanded Source Types
- 3 types of signals: levels crosses, slope, and middle crosses
- Alerts
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