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Indicators

Swami stochastic - indicator for MetaTrader 5

Mladen Rakic

Views:
1057
Rating:
votes: 7
Published:
2018.10.29 20:33

Theory :

In the March 2012 issue of TASC John Ehlers was describing the swami charts (indicators) again

This version : 

In addition to drawing colored zones, this indicator has what the original does not have : the "generic" stochastic (that is a type of average of all the stochastics calculated to display the "swami" zones). Without that generic stochastic it is virtually impossible to use any value as a criteria for some trend assessment (unless we consider the color as that, but with swami charts that can be quite difficult sometimes)

Usage :

Ehlers advises to use colors, but I strongly advise that you use the values of the "generic" stochastic for trend estimation

PS: Swami charts are not "CPU friendly". Take care of the settings for that reason

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