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Indicators

Stochastic extended - floating levels - indicator for MetaTrader 5

Mladen Rakic

Views:
837
Rating:
votes: 10
Published:
2018.11.23 22:02

Theory :

The built in stochastic allows the usage of only two price combinations. The "extended" version already included all the rest of the prices. This version is further extending the indicator : it is adding "floating levels".

This version :

Instead of using some fixed levels as a criteria for over-bought and oversold, now the indicator calculates "floating levels" which are adjusting itself to the changes of the stochastic. That, implicitly, make the stochastic adaptive, so in this case w can say that we have an adaptive extended stochastic

Usage :

You can use the color change as signals. Setting the upper and lower level to 50% would in effect simulate a sort of "zero line" crosses for stochastic - without having a real zero line


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