Triple Stochastic RSI

Triple Stochastic RSI (TSRSI)

The Triple Stochastic RSI is a momentum visualization tool designed to help identify potential market tops and bottoms with greater clarity. This indicator stacks three layers of smoothed StochRSI — Fast, Slow, and Slowest — each derived from increasingly longer RSI and Stochastic periods.

By analyzing how these layers interact, especially when the Slow (purple) and Slowest (orange) lines converge or cross near overbought or oversold zones, traders can spot high-probability reversal points. These moments often precede price turning points, and the signals gain strength when confirmed by divergences between price and indicator movement.

Key features include:

• Triple StochRSI smoothing to capture short- to long-term momentum shifts.
  
• Dynamic overbought/oversold signals with visual cross markers.
  
• Built-in trend sentiment and average streak statistics.
  
• Alerts for crossovers, trend shifts, and extended over/underperformance streaks.
  

Use it as a standalone momentum framework or as a supporting layer for divergence detection and market exhaustion analysis.

The stats table in your script provides insight into how long each Stochastic line (%K) typically stays above or below the 50 midline, and how the current streak compares to that average.

1. "Current" Column

This shows how many consecutive bars the %K has been:
Above 50 (▲)
OR Below 50 (▼)
It updates in real time on the last bar.

2. "Avg ▲ / Avg ▼" Column

These are historical averages based on your lookbackPeriod (default 1000 bars). It shows:
The average length of time %K stays above 50 (bullish bias)
The average time it stays below 50 (bearish bias)

Example Breakdown:

Let’s say the "Slow" row shows:
Current: 7 ▼
Avg ▲ / Avg ▼: 6 / 5

This means:
%K on the Slow lane has been below 50 for 7 bars
Historically, it only stays below 50 for about 5 bars on average
So, this bearish streak is already longer than usual

How to Use This Information:

A longer-than-average streak could imply a maturing move, potentially near exhaustion.
If current ▲ or ▼ streak is nearing or exceeding its average, it may warn of an upcoming shift.
Good for contextualizing trends and avoiding late entries.