Weighted Stochastic, RSI, and Money Flow Oscillator

Summary

Stochastic Weights combines several bounded momentum and money-flow measures into a weighted oscillator. Components include price stochastic, stochastic RSI, stochasticized price change, stochasticized volume, RSI, smoothed RSI, MFI, and smoothed MFI. Users can enable components, adjust their lookbacks and smoothing, and assign weights; the weighted average is then smoothed into K and D lines. The indicator displays overbought and oversold bands and marks extreme K readings.

The script also contains pivot-based divergence settings and alert conditions for very overbought or oversold readings, though the supplied excerpt does not show all divergence logic. It offers configurable and preset settings but no documented entry/exit strategy, backtest, or performance comparison. Because many inputs are related versions of oscillators, the weighted blend may combine overlapping information; users should assess its behavior and signal quality in their own markets and timeframes.

Key ideas

• The oscillator blends price, RSI, price-change, volume, and money-flow measures using configurable weights.
• Smoothing produces K and D lines, with adjustable component periods and moving-average choices.
• Overbought, oversold, and more extreme levels provide reference zones and extreme-reading alerts.
• The script includes settings for pivot-based divergence analysis, but the excerpt does not show the full logic.
• No trading performance or validation evidence is supplied, and several components may capture similar information.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.