Bar Based Stochastic indicator is a modified stochastic.
There are seven configurable parameters:
- %K period - stochastic K line period
- %D period - stochastic D line period
- Slowing - slowing
- %K method - stochastic K line calculation method
- %D method - stochastic %D line calculation method
- Overbought - overbought level
- Oversold - oversold level
Calculation:
K = MA(FastK, Slowing, %K method)
D = MA(K, %D period, %D method)
where:
FastK = 100.0 * mins/maxes
mins = Close - minLow
maxes = maxHigh - minLow
minLow, maxHigh - low and high prices in the %K period range