OPEN-SOURCE SCRIPT
Premium Stochastic Oscillator
Updated
The PSO is a rewired version of a short-period stochastic. Unlike a standard stochastic oscillator, this indicator is normalized to register neutral values at zero while providing greater sensitivity to short-term price moves. This indicator uses a central zero line as a reference point and will oscillate above and below this point as price fluctuates. In addition, the PSO is smoothed by using a double exponential moving average to provide a more even response to turns in the market.
(from TASC magazine, August 2008 issue).
The Premium Stochastic Oscillator was introduced by technical analyst Lee Leibfarth.
(from TASC magazine, August 2008 issue).
The Premium Stochastic Oscillator was introduced by technical analyst Lee Leibfarth.
Release Notes
color problem correctedOpen-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 publication is governed by House rules. You can favorite it to use it on a chart.
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