The UStochaastic (Universal Stochastic) was created by M_j back in 2011 and then optimized and updated by Mladen a few years later.
An interesting version of the Stochastic nonetheless.
As explained by M_j:
This is universal multifunctional stochastic.
As related to Spuds teaching: Only the K% Main Stochastic is calculated: (No D% line).
I hope it works as hoped for.
This will be my replacement for all stochastics I have used so far: No other one is any-more needed. (that's why: Universal)
Short Note of the options:
ShowBars=true : Displays color bars - if false it displays the Stoch Line
ConsiderColorOverBoughtSold=true; Related to Bars Display: uses for Oversold/Overbought additional Color ( In that area there is no direction check)
If false: Direction Check is everywhere and only UP, DOWN, FLAT color are used.
UseInterpolation: Uses for stochastic interpolation - can also be used with Color Bars (probably quite useful)
Related to the next option: if Interpolation is enabled we readjust always Data correctly (Hopefully
ReAdjustDataForPastBars=true; (if true Past Data are ReAdjusted (Line and Bars)
if false and no Interpolation is used: there should be no readjustment of Data (you see this only after some time with new data coming in (at first initialization all past data are correctly (hopefully)
set to false can be also a useful option
DontDisplayValuesAndSettings=false; if true: Values in the indicator window are not displayed: quite useful for instances where one uses multiple stochastics overlayed:
like the Rope or so MTF 4 or 5 stochastics.
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