NASDAQ Composite Stochastic Indicators

I've found the stochastic oscillator to be quite useful, especially when you look at it over multiple time frames. Here's a recent NASDAQ Composite chart with stochastic oscillators for 3-day, 30-day, and 60-day time frames:

Each indicator is as a "full stochastic" configured with the following periods:

• Blue: %K = 3, smoothing = 2, %D = 0.
• Green: %K = 30, smoothing = 5, %D = 0.
• Magenta: %K = 60, smoothing = 45, %D = 0.
  

The green (30, 5, 0) Full Stochastic in particular seems pretty good at indicating reversals, especially when it's in the overbought (above 80%) or oversold (below 20%) zone. The above chart doesn't show an example of overbought, but if you apply these stochastics to older time periods or other indexes or even individual stocks, the (30, 5, 0) Full Stochastic often works as extra confirmation of a bounce from a top/bottom.