sorry, probably it should be moved to indicators request section? my mistake then
It's an old idea of getting signals out of stochastic crossing it's envelopes rather than the 50 (or whatever fixed horizontal) lines. Sometimes it helps filter out some bad signals, like on the pic. As you can see, the three buy signals (based on 50 line cross) would be ruled out by the higher envelope line here (it is not crossed).
When doing a lot of currencies, it's hard to track them all all the time. Wondering if some generous one has or will be willing to develop an indicator alerting the stoch/higher or lower envelope cross. With an option to change the parameters of envelopes (it's 10% on the picture, for example), period and %. I guess, in this case, if we set this parameter to 0 (or 0.0001), we will get just a plain stochastic 50 line cross alert indie. Which sometimes also works well...
The stoch is an indie with a logic of itself, but it definitely is the one that does not let you miss many signals... problem is filtering out bad ones.
Cheers to all!