Check stochastic value / position on open of new candle.

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Hi,

I want to know if it's possible to check the position of the stochastic soon as a new candle opens in order to enter a trade or not....

I am busy having someone code an EA from me and they say this is not possible..? 

Logic tells me the following.... New candle opens.

                                               Pause 1 - 2 seconds..Check current position of stochastic (If it has crossed over or above say 20 oversold area)

                                                If yes enter trade. If no, wait for open of next candle...Repeat previous steps...


The trigger to trade would be a trend signal, but then I want to confirm that the stochastic has crossed over in the direction of the trend signal...?

Is this possible or can I only check the previous position of the stochastic on the new open candle.....??


Thanks in advance..

 
  1. Is it possible? Yes.

    How To Ask Questions The Smart Way. 2004
              Only ask questions with yes/no answers if you want "yes" or "no" as the answer.

  2. Your logic is faulty. Do you really think that, at the start of a candle, the Stochastic will be significantly different from the previous candle? Go read about the definition.
 

""Your logic is faulty. Do you really think that, at the start of a candle, the Stochastic will be significantly different from the previous candle? Go read about the definition.""

Yes in fact there is a big difference between the position of teh stochastic on the open of a new candle and the open of the previous candle position of the stochastic...The previous open was still above ( as in the blue line of the stochastic hasn't crossed the red dotted line of the stochastic)  On the current new candle that I am trading manually ( and in profit, may I ad) the position of the stochastic was below on the open of the candle....SO i enter the trade..I'm trying to find out if this can be automated...?

Maybe how I worded it wasn't correct, but my logic is right....So the question remains....Can the stochastic position on the open of the new candle be "recorded" as true or false ( based on a strategy), so if you get a sell signal and on the open of the new candle, the position of the stochastic, not the position of the stochastic on the previous close of a candle, (on this new candle) has crossed below, and based on that enter a sell position...? Yes or no? Thanks...

 

Found this indicator that does exactly what I was talking about......logic not faulty after all....don't be so quick to find fault....we come here to the forum to seek help....

For those interested in what I was asking about you can download the indicator attached...

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