OPEN-SOURCE SCRIPT
RSI-Stochastic Combined Oscillator(Mastersinnifty)
Description
The RSI-Stochastic Combined Oscillator blends the strengths of RSI and Stochastic indicators to offer a refined view of market momentum. This custom oscillator highlights high-probability turning points using both value crossovers and directional momentum filters. Enhanced signal logic distinguishes between strong and weak trade setups.
How It Works
Inputs
Use Case
Ideal for traders looking to:
Disclaimer
This indicator is designed for educational purposes only and does not constitute financial advice. Always conduct your own analysis before making trading decisions.
The RSI-Stochastic Combined Oscillator blends the strengths of RSI and Stochastic indicators to offer a refined view of market momentum. This custom oscillator highlights high-probability turning points using both value crossovers and directional momentum filters. Enhanced signal logic distinguishes between strong and weak trade setups.
How It Works
- Calculates RSI and Stochastic %K using user-defined lengths.
- Generates a combined oscillator by averaging RSI and Stochastic %K.
- Smoothes the output with configurable MA for clarity.
- Generates bullish/bearish signals based on crossover logic and momentum strength.
- Includes overbought/oversold zones and background color warnings.
- Optional signal table displays real-time values for RSI, Stochastic, Combo, and Signal Line.
Inputs
- RSI Length – Period for RSI calculation.
- Stochastic %K/%D Length – Periods for Stochastic values.
- Combined Oscillator Smoothing – Moving average smoothing period.
- Overbought/Oversold Levels – Thresholds for signal filtering and background alerts.
Use Case
Ideal for traders looking to:
- Confirm entries using dual momentum logic.
- Filter out noise with smoothed oscillators.
- Identify high-conviction reversal zones.
- Receive alerts based on strong and weak momentum shifts.
Disclaimer
This indicator is designed for educational purposes only and does not constitute financial advice. Always conduct your own analysis before making trading decisions.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.