OB - overbought (sell)
OS - oversold (buy)
A trend is identified with the correlation factor when the line is showing +/- 0.5 - 20 bar history is found to work the best for any time-frame.
Signals for stochastic buy and sells should be used for accumulation and distribution of a trading position. They are not signals for long term reversals and they should be used in tandum with the time-frame they were given on.
Ex. Time Frame Trade Periods: 1hr (BUY) - 5hr hold (estimate) - 1hr (SELL)
Stochastic settings work best as (8, 3, 3) or (14, 3, 3).
To use correlation feature, remove the comments in the source code. Although, I would read the paper or look at how the signal is produced.
John F Ehlers (I cannot post links yet): Google John F Ehlers Correlation as a Trend Indicator
The signals are quite easy but have, imo, proven to show strong sings of volume/reversal (buying/selling) zones. The settings for stochastic should not be changed as the (8, 3, 3) intervals are perfect and are used quite largely in banking. I'll be updating this more as to test strategies and give more clear alerts for automation.
The whole position flag should just be used as a tool along with any other confirmations you have as its only indicating extremely overbought or oversold levels and these conditions may persist for another bar or two.
Use 4hr time frames from what I've seen works best. These signals can be used in the complete opposite way during downtrends, meaning you would short the sells and buy, obviously.
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