Hi there, I am new to MT4 and I wonder if someone is willing to help me. I need an indicator for Stochastics:
30mins STOCHASTIC 5,3,3
30mins STOCHASTIC 14,3,3
4hr STOCHASTIC 5,3,3
4hr STOCHASTIC 14,3,3
Enter long at next 30mins candle open when all stochs have crossed up but are below 40
Close as soon as the STOCH 5,3,3 on the 4hr crosses down
Enter short at next 30mins candle open when all stochs have crossed down but are above 60
Close as soon as the STOCH 5,3,3 on the 4hr crosses up
I have two questions if someone can help me with.
Can someone explain to me what a Stachastic RSI indicator is and where I can find this for MT4 platform.
On this and the simple Stachastic or RSI what settings do I use for different time frames. e.g., I read Stochastic 8,8,3 setting is the best for a 30 minute chart. What are best for 15 minutes, 5 minutes, and 60 minutes charts?
Thank you. This is a great forum.
The Stochastics RSI is quite different from the normal stochastics and the calculation is quite complex. In simple, it is the Stochastics formula applied to the RSI indicator. I have attached the indicator, but dont ask me how to use it because i dont
I've attached different versions, but I dont know the real difference between them Hope that helps
Thank you very much.
I read an article the other day on StochRSI, but didn't know where to find it. Let me try to find it for you....
That's Multi Time Frame Stoch (MTF)