MT4 indicator (Color_Stochastic.mq4)

Forex MT4 indicator Color Stochastic Download indicator: Color_Stochastic.mq4


How to use Color Stochastic indicator


Color Stochastic indicator shows overbought and oversold levels.

Stochastic readings above 80 suggest market being overbought, Stoch line turns green;
while readings below 20 - market being oversold, Stoch line turns red.

Forex MT4 indicator Color Stochastic

Ability to see these areas at a glance helps to judge about trends and reversals.

While Stochastic stays above 80 (green line) - an uptrend is in progress.
At the same time a reversal momentum should be anticipated soon. In particular, traders should watch for developing reversal patterns such as:
- failure swing high,
- double top,
- head-and-shoulders pattern.



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Comments


  • trader

I like this indicator. Can you add sound alerts if they get out of 80 and 20 overbought/oversold lines?

Always liked your indicator reviews. Thanks.

  • FxIndicators

Sure, Stochastic indicator with the Overbought/Oversold sound alert: Stoch_Alert.mq4

And another version of the same idea:
this time it is a separate call for each line (%K and D%). Each one will sound when reaching certain levels or when crossing each other.

Stoch_Alert_K_Sound.mq4
Stoch_Alert_D_Sound.mq4

  • trader

What is the difference between this indicator and the xForecaster

  • FxIndicators

Looking at google images, there is absolutely nothing in between those two indicators.

  • trader

in which time frame we should use this? normaly

  • trader

from the picture above, he use 5 minutes frame

  • trader

hi..the standard stochastic i'm using is 8,3,3. i see that u use 30,10,10. will it have any impact if i were to change to 30,10,10? thanx bro..

  • FxIndicators

It'll slow and widen the Stochastic graph, and yes, it can change the timing of your entries and exits.
There is no "absolute winning setup" for Stochastic. Every trader decides what values to use and what works best for him.

  • trader

there is no such thing as overbought and oversold..

  • trader

yea yea,, my comment is not posted..

  • FxIndicators

All comments are posted, but sometimes there could be delays (end of summer a bit hectic). Sorry about the inconvenience.

"Overbought" and "Oversold" are just commonly used terms to identify "points of interest" so to speak (in other words, the areas with extreme high/low values).

I agree that it doesn't directly relate to the market being necessarily oversold or overbought, but the fact that we can use this data (no matter how we call it) remains true.

  • trader

Great Website!!!

  • trader

To all the people use this indicator on STOCK trading using 1min chart...It works...Remember you are scalping so you must not expect to get like 100 pips in 1min chart...Target should be 3-4 pips...

Enjoy

  • trader

how do i know when to buy or when to sell using color stock?

  • trader

Hi,

May I know, how to set to have an alert when line %K exiting from 80 overbought and alerting to sell and when line %K exiting from 20 oversold and alerting to buy?

Thank you:)


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