Multi Asset & TF Stochastic

Multi Asset & TF Stochastic

This indicator allows you to compare the stochastic oscillator values of two different assets across multiple timeframes in a single pane. It’s designed for traders who want to analyse the momentum of one asset (by default, the chart’s asset) alongside a second asset of your choice (e.g., comparing EURUSD to the USD Index).

How It Works:

Main Asset:
The indicator automatically uses the chart’s asset for the primary stochastic calculation. You have the option to adjust the timeframe for this asset using a dropdown that includes TradingView’s standard timeframes, a "Chart" option (which automatically uses your chart’s timeframe), or a "Custom" option where you can type in any timeframe.

Second Asset:
You can enable the display of a second asset by toggling the “Display Second Asset” option. Choose the asset symbol (default is “DXY”) and select its timeframe from an identical dropdown. When enabled, the script calculates the stochastic oscillator for the second asset, allowing you to compare its momentum (%K and %D lines) with that of the main asset.

Stochastic Oscillator Settings:
Customize the %K length, the smoothing period for %K, and the smoothing period for %D. Both assets’ stochastic values are calculated using these parameters.

Visual Display:
The indicator plots the %K and %D lines for the main asset in prominent colours. If the second asset is enabled, its %K and %D lines are also plotted in different colours. Additionally, overbought (80) and oversold (20) levels are marked, with a midline at 50, making it easier to gauge market conditions at a glance.

%D line can be toggled off for a cleaner view if required:



Asset Information Table:
A table at the top-centre of the pane displays the active asset symbols—ensuring you always know which assets are being analysed.

How to Use:

Apply the Indicator:
Add the script to your chart. By default, it will use the chart’s current asset and timeframe for the primary stochastic oscillator.

Adjust the Main Asset Settings:
Use the “Main Asset Timeframe” dropdown to select a specific timeframe for the main asset or stick with the “Chart” option for automatic syncing with your current chart.

Enable and Configure the Second Asset (Optional):
Toggle on “Display Second Asset” if you wish to compare another asset. Select the desired symbol and adjust its timeframe using the provided dropdown. Choose “Custom” if you need a timeframe not listed by default.

Review the Plots and Table:
Observe the stochastic %K and %D lines for each asset. The overbought/oversold levels help indicate potential market turning points. Check the table at the top-centre to confirm the asset symbols being displayed.

This versatile tool is ideal for traders who rely on momentum analysis and need to quickly compare the stochastic signals of different markets or instruments. Enjoy seamless multi-asset analysis with complete control over your timeframe settings!