Just some more about stochastics.I think - those 3 stoch indicators (see previous page for setup) can catch good movement.
It is EURUSD:
and it is USDCHF:
Just the other situation - see the images.
I think - I will create separated thread about 'market condition evaluation based on standard indicators in Metatrader 5'
This is the next example - we can see why we need 3 stoch indicators with different settings.
Templates for white background (for analysis) and for bkack background (for using with trading) are attached.
Please note - it is Metatrader 5 so the path to place template is the following (for example):C:\Program Files\MetaTrader 5\Profiles\Templates
How to use template?Place it in right direction, after that - open M5 chart of selected pair, right mouse click and select the template - and all indicators will be loaded with the settings.
I think - I should open new thread for such the setups which may be used for technical analysis, or as a filter for some system.
Just some improvement of this 3 sotch setup - Ma Fibo 3 stoch :
That's all news.
It was about Market Condition Evaluation based on standard indicators in Metatrader 5
Absolutely, More Threads About The Implementation Of Trading Strategies And Correct Usage Of Technical Indicators Is A Must.. I Love The Stochastic Examples You Went Way Beyond What I Expected..
In Your Examples I See That The Signal Should Be No More Than 10 Candles Beyond The First Cross Over From The Over Sold or Over Bought Region..
If I'm Off Please Correct Me.. When I Think Simultaneous I Think Of 6 to 7 Candle After Each Signal Cross
I started new thread:https://www.mql5.com/en/forum/9773
By the way - I want to promore good post which may help to MT5 newbies (and to me too sorry :) )
to predict daily chart , I think we need to combine 2 analysis(to increase accuracy) , technical and fundamental. but to avoid make big mistake i.e Margin call, Good money management is the best things that we can do :)
just my 2 cent
about fundamental - I remember some good news indicators (made by Igorad) and some more ... so there is some idea to create such the tool for MT5. especially when news indicator is the part of MT5 platform for now. In this case - this indicator(s) may be just attached to the chart showing with high impacted news events only, and we will have 2-in-1 on one chart (technical + fundamental).I will speak with Igorad during the New Year time.
Just an idea.
By the way, as I know -,we can add news events to the chart (it's working only when market is open, right ... may be I am wrong ...).But what we need is the EA to trade those new events ...
Fundamental part of this story may be opened as separated thread.anyway ... will see ...