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Is it possible to change the parameters on stochastic's from 80/20? if so please enlighten me
thank you as always.......
You need to add your choice of indicator- Full, Slow, or Fast Stochastics - to your chart FOUR times.
The first two "blank out" the 80 and 20 lines, the second two add your new lines.
The first time, add your Stoch choice, choose "Below" or "Above" for Position, and for Overlay choose Horizontal Line, and for Parameters choose 80:white - or whatever your background color is.
By making it the same color as the background, it "disappears: - except it really doesn't - you'll notice little stripes on your %K and %D lines.
Then add Stoch again, this time for Position choose "Behind Ind" so the second indicator overlays the first. Then Horizontal Line, 20:white.
That much "blanks out" the 80/20 lines.
Now add Stoch again - "Behind Ind", Horizontal Line, your choice of number and color for the new upper bound, e.g. 65:blue
Add Stoch again, - "Behind Ind", Horizontal Line, your choices again for the lower bound.
Do the first one and set your Horizonal line parameters as 20:white, 80:white (or whatever your background color is)
So it's number colon color comma number colon color
Then add your second stochastic, behind the first. Set you Horizontal overlay parameters the same way as the 1st. Just change your numbers and colors if you desire.
This is a very handy method. You can even change your colors like 35:green, 65:red
@lmkwin - I didn't realize you could enter two sets of parameters for one Horizontal Line, even though that is plainly what you said. Didn't sink in. Thanks for the picture.
You actually can enter more than 2 parameters on the Horizontal line option, both in the Chart attributes section and in the Indicator overlays section.
So for the Above the Green Line look, one could try
In MY line charts I use the Horizontal lines in chart attributes of
These are the "Magic Numbers" that Gerald Appel identified as common areas where a price tends to pause finding resistance or support as it moves along. Gerald Appel was the creator of the MACD among other technical indicators.
I can't wait for StockCharts.com to finally get around to updating their Point and Figure charting attributes and overlays. They haven't updated anything visual on the P&F charts in my memory. They have received plenty of suggestions from me over the years. Horizontal lines would be a very easy add, in my opinion. They can be used to identify anchor points and count levels, etc. Anchor point is basically the row most filled. Very useful in P&F analysis.