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Hy,
I'm searching for an API/library offering an implementation of the financial stochastic technical analysis.
Does someone know a ready-do-use solution?
Thanks,
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Stochastic oscillators display two lines: %K, and %D. The %K line compares the lowest low and the highest high of a given period to define a price range, then displays the last closing price as a percentage of this range. The %D line is a moving average of %K.
Some of the best technical indicators to complement the stochastic oscillator are moving average crossovers and other momentum oscillators. Moving average crossovers can be used as a complement to crossover trading signals given by the stochastic oscillator.
Calculation. The default setting for the Stochastic Oscillator is 14 periods, which can be days, weeks, months or an intraday timeframe. A 14-period %K would use the most recent close, the highest high over the last 14 periods and the lowest low over the last 14 periods. %D is a 3-day simple moving average of %K.
But experts believe that the best timeframe for RSI actually lies between 2 to 6. Intermediate and expert day traders prefer the latter timeframe as they can decrease or increase the values according to their position.
If you are looking for an open-source library for calculating technical indicators, give TA-Lib a go. Source code is available for .Net, Java and C/C++. The open-source version hasn't been updated since September 2007 though, and there is a paid for Excel version as well.
If you are working in a .Net environment and just want chart rendering, I think the MSChart control (purchased from Dundas by Microsoft) supports a small set of TA indicators.
If you want to implement the indicators yourself, the 'bible' that documents them is Technical Analysis from A to Z, 2nd Edition (affiliate link).
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I released a Java library for technical analysis: ta4j
It comes with several indicators, including: Aroon, ADX, ATR, Bollinger bands, moving averages, parabolic SAR... and stochastic oscillators.
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