Thanks Mrtools, now I'm sure !
Best regards from Wulong
id like to ask you guys for some help. i rely on the stochastic very much its a great indicator. but i have problems when the stochastic stays prlonged in oversold/overbought areas too long. i get in and go on drawdown. is there a version of the stochastic that will will give me a signall when its trully leaving the overbough/sold areas? thank you
Depending on your setting, when stochs is in the OB/OS areas, the chart could be in a trend.
What I have done successfully is to combine/overlay two settings of stochs, one fast and one slow. If you then add levels 75 and 25 this will give you a higher probability of getting the reversals when they leave the 'trending' levels.
Each timeframe has its own settings but I am sure this will help.
Here is an illustration of the 1hr chart with the white being oversold/bought but being inside the 'trending levels' of 75/25.
Nothing is 100% but it will improve the probability of a successful trade.
Hope this helps.
Made some changes in it (easier to use, new descriptive options where possible, percentage filter is really a percentage filter now - percentage of the deviation, the example bellow is with percentage set to 100%) and shorter and simplified code : nonlag_stochastic_nrp_2.mq4
Looks really nice, Mladen. Will certainly take a look at it. Many thanks for the efforts ! What would we do without you ?
...maybe something else ...
And what would you do without us ?
Certainly not adding divergence to the 'Nonlag stochastic nrp 2.mq4' !
Why ? Simply because it's a very good candidate for it . With arrows on the indicator please.
We keep you busy ...
We had no good argument for guys telling us we'd need no indicator for trading and shouldn't use any. We should print T-shirts with "I use indicators made by mladen & mrtools - deal with it".
Life would be boring without us
Ha, ha, I use more than 20 indicators in my M1 chart, so most people think I'm crazy, but I'm less crazy than people who use none ...
And if we would walk around with T-shirts like that, a lot of people would ask us 'What the hell is an indicator ?'.
"Trading naked" always resembled to gambling for me. But that is my opinion - the others may or may not agree
20 indicators and that on a M1 chart? Not bad. The Measter controlls the chaos. Some build-in indicators of MT4 are also gambling for me, e.g. MACD and BB. And cause we won't trade naked we need T-shirts Is there any merchandising yet?