Stoch Color Indicator
- Indicators
-
Adrian Hernandez Castellanos
Ingeniero en computación con más de 25 años de experiencia en el sector de las tecnologías de la información con maestría en Gestión de Tecnologías de la información. He trabajado en una variedad de empresas, desde pequeñas startups hasta grandes corporaciones, en una variedad de roles, con un - Version: 1.7
- Updated: 29 February 2024
- Activations: 20
Stochastic Oscillator with Coloring
This indicator colors the background according to the trend of the indicator. The indicator colors the background according to the value of the stochastic oscillator, whether it is an uptrend or a downtrend. The background color is determined by the parameters of the stochastic oscillator, painting only the last 400 bars (see notes).
Parameters that you can modify:
- %K Period: The %K period
- %D Period: The %D period
- Slowing: The slowing period
- Price Field: Low/High or Close/Close
- MA Method: Simple, Exponential, Smoothed, Linear weighted.
- Color Positive Trend: The color of the background for an uptrend
- Color Negative Trend: The color of the background for a downtrend
- Color Neutral Trend: The color of the background for a neutral trend
- Print all plots?: By default, the indicator only shows the values of the last two weeks. If you want to see all the values, you must set the parameter to "true" (see notes).
How to use the indicator:
Works like any other Metatrader indicator that you drag and drop onto the chart.
Conclusion:
This indicator is a useful tool for market traders who use the Stochastic Oscillator. It helps to identify uptrends, downtrends, and neutral trends in real time.
Notes:
- If you are a market analyst or if your trading uses different time frames, it is recommended to use the tool: https://www.mql5.com/en/market/product/109890
- Due to the high resource consumption and speed of execution, it is recommended to use the parameter "Print all plots? = false", this will limit the values obtained by the indicator to a maximum of two weeks (or the bars defined in Options of your Metatrader).
- The use of 400 bars is limited because market traders generally need a quick visual data, this is the reason for this limitation. (Any comments on this, please send them to the corresponding section). In any case, if you want to exceed this limitation temporarily, you can also use the free tool mentioned in the first note, to use it from the bars where you have interest, until the present time, both tools were developed to be compatible.
