Slow Stochastic
Overview
A Slow Stochastic simply uses the %D line of a fast stochastic indicator as the %K line, and calculates a new moving average off the %K and plots it as the new %D line.
Calculation
Refer To the Fast Stochastic tool.
To add the tool to your chart, select the tool from the Price tool group, and left-click on the chart to add the tool. Optuma will then draw the tool in a window below the chart using the default settings.
Scripting Function: STOCHSCAN()
Actions & Properties
Actions
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Slow Stochastic tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Slow Stochastic tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Slow Stochastic to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Properties
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
Base Stochastic: This is the number of time periods that are used to calculate the base stochastic.
%K: This is the first moving average of the stochastic. Sets the number of Bars to use.
%D: This is the second moving average of the stochastic. Sets the number of Bars to use.
K Plot: This option expands to show the following:
- Plot Style - Allows you to change how the K Plot is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
- Line Style - The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
- Line Width - Allows you to adjust the width of the line. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
- Fill Up / Down Barrier - When the Plot Style is set to Shaded you are able to adjust the barrier value, the default value is 0.00.
- Fill Up Colour - When the Plot Style is set to Shaded you are then able to alter the Fill Colour for the tool.
- Fill Down Colour - When the Plot Style is set to Shaded you are then able to alter the Fill Colour for the tool.
- Transparency - When the Plot Style is changed to Shaded, you then are able to adjust the shading transparency. Moving the slider to the left will increase the transparency of the K Plot.
- Visible - Un-tick this checkbox to hide the K Plot from the chart.
D Plot: This option expands to show the properties of the D Plot style. The properties are identical to those listed for the K Plot.
Level 1: Sets the value of the first horizontal level. Click in the field to change the level.
Level 2: Sets the value of the second horizontal level. Click in the field to change the level.
Level Style: This option expands to show the following:
- Line Style - The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
- Line Width - Allows you to adjust the width of the line. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
- Transparency - Use this slider bar to adjust the transparency of the Level line. Moving the slider to the left will increase the transparency of the tool.
Offset: This provides the option to offset the Slow Stochastic from the chart, to adjust the offset value use the blue up and down arrows.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show in Price Scale: When selected the current Slow Stochastic value will be displayed in the Price Scale.