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2016.02.08 12:49
Stochastic Only

Stochastic Only - indicator for MetaTrader 4

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The indicator uses the data from three Stochastic indicator to determine the potential entry points:

  • slow (default period is 700);
  • medium (default period is 120);
  • fast (default period is 30).

The signal (a corresponding arrow is drawn on the chart) is generated when all three indicators are in the overbought/oversold areas at the same time. The size of the areas for slow, medium and fast is (by default): 10; 10; 5 respectively. That is, at the area size of 10, the indicator generates a sell signal if the value of the Stochastic is greater than 90, buy signal — if less than 10.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/14657

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