NinjaTrader 7 Indicators - KDJ Indicator
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KDJ Indicator 4 *
Exported Using NT7.0.1000.8

The first time that I saw KDJ Indicator it was part of the standard charting package on the main page used by TDAmeritrade. KDJ indicator is based on the standard Stochastics but it includes an extra line called J line.

The J line is a measure of divergence between %D and %K. The value of J can go beyond [0, 100] range. Values of J line over 100 or under 0 are supposedly the most bullish or bearish for larger swings (no wonder TDAmeritrade is using it for charting stock prices).

One needs to watch as the %D is in overbought and oversold areas (20 - 80). As long as the J line is beyond 0 and 100 percent and has not hooked up or down the price is going to remain in overbought or oversold area. One needs to consider to sell the overbought or buy the oversold when %D is above 80 or below 20 and J line begins to hook down or up. Other indicators such as momentum, volume, support and resistence, etc. need to be considered for confirmation.

Enjoy!


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January 31st, 2012
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