OPEN-SOURCE SCRIPT
已更新 [blackcat] L1 Vitali Apirine Stochastic Distance Oscillator

Level 1
Background
Vitali Apirine published an article of “The Stochastic Distance Oscillator” on June 2023. I rewrite it for pine script.
Function
Vitali Apirine offers a new twist on the classic stochastic oscillator, which he calls "Stochastic Distance Oscillator" (SDO). The SDO is an impulse study that shows the size of the current range versus the maximum/minimum range range over a period of time. The study can be used for stocks or indices that are trending, but is also useful for trading ranges. Overbought and oversold levels can help spot upside and downside trend changes.
Remarks
Feedbacks are appreciated.
Background
Vitali Apirine published an article of “The Stochastic Distance Oscillator” on June 2023. I rewrite it for pine script.
Function
Vitali Apirine offers a new twist on the classic stochastic oscillator, which he calls "Stochastic Distance Oscillator" (SDO). The SDO is an impulse study that shows the size of the current range versus the maximum/minimum range range over a period of time. The study can be used for stocks or indices that are trending, but is also useful for trading ranges. Overbought and oversold levels can help spot upside and downside trend changes.
Remarks
Feedbacks are appreciated.
發行說明
OVERVIEWThe [blackcat] L1 Vitali Apirine Stochastic Distance Oscillator is a unique technical indicator designed to measure the distance between current prices and their moving averages over different periods. This oscillator helps traders identify potential buy and sell opportunities by highlighting overbought and oversold conditions. With customizable parameters and clear visual signals, it provides valuable insights into market momentum and potential reversals 📈💹.
FEATURES
Calculates the Stochastic Distance Oscillator (SDO) based on specified periods:
Long-term period: Default set to 200 bars.
Short-term period: Default set to 12 bars.
Smoothing period: Default set to 3 bars.
Includes adjustable overbought and oversold levels:
Overbought level: Default set to 40.
Oversold level: Default set to -40.
Plots the SDO line along with zero, overbought, and oversold lines for easy visualization:
Yellow line represents the SDO value.
Red line indicates the overbought level.
Green line indicates the oversold level.
White line represents the zero level.
Generates buy ('Buy') and sell ('Sell') labels on the chart for quick identification 🏷️
Provides alerts when buy or sell signals are triggered 🔔
HOW TO USE
Add the indicator to your TradingView chart by selecting it from the indicators list.
Adjust the Long-Term Period, Short-Term Period, Smoothing Period, Overbought Level, and Oversold Level parameters as needed to suit your trading strategy ⚙️.
Monitor the chart for buy and sell labels indicating potential trade opportunities.
Set up alerts based on the generated signals to receive notifications when conditions are met 📲.
Use the overbought and oversold levels as additional context for market sentiment analysis.
LIMITATIONS
The indicator may generate false signals in highly volatile or ranging markets 🌪️.
Users should combine this indicator with other forms of analysis for more reliable trading decisions.
The effectiveness of the indicator may vary depending on the asset and timeframe being analyzed.
NOTES
Ensure that you have sufficient historical data available for accurate calculations.
Test the indicator thoroughly on demo accounts before applying it to live trading 🔍.
Customize the appearance and parameters as needed to fit your trading strategy.
<b]THANKS
Special thanks to Vitali Apirine for developing the original concept behind the Stochastic Distance Oscillator 🤝.
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
Avoid losing contact!Don't miss out! The first and most important thing to do is to join my Discord chat now! Click here to start your adventure: discord.com/invite/ZTGpQJq 防止失联,请立即行动,加入本猫聊天群: discord.com/invite/ZTGpQJq
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
Avoid losing contact!Don't miss out! The first and most important thing to do is to join my Discord chat now! Click here to start your adventure: discord.com/invite/ZTGpQJq 防止失联,请立即行动,加入本猫聊天群: discord.com/invite/ZTGpQJq
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。