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Hi,
I would like a Stochastic indicator to give overbought and oversold exit alerts based on Awesome Oscillator and Moving Average trend.
The timeframes conditions would be checked based on closed candles.
Please see below for conditions, parameters and alert examples. There should also be an option to turn overbought exit and oversold exit alerts on or off.
Stochastic Alert Conditions:
Stochastic Overbought Exit: When Stochastic exits the overbought level, a check will be made to the Awesome Oscillator to ensure that it is below zero on the chosen timeframe chart and below Moving Averages. If these conditions match, then the Stochastic will give a Stochastic (Overbought Exit) sell alert signal. Otherwise, no alert
Stochastic Oversold Exit: When Stochastic exits the oversold level, a check will be made to the chosen Awesome Oscillator to ensure that it is above zero on the chosen timeframe and above Moving Averages. If both these conditions match, then the Stochastic will give a Stochastic (Oversold Exit) buy alert signal. Otherwise, no alert
Parameters:
| Candle | Open/Closed |
| Stoch |
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| Timeframe |
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| Stochastic Period |
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| Stochastic slowing period |
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| Stochastic Signal |
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| Stochastic MA Method | Exponential, Simple, Smoothed, Linear Weighted |
| Upper level or overbought | |
| Lower level or oversold | |
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| Moving Average |
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| MA Timeframe |
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| Moving Averages | Option to choose up to 2 MAs |
| MA Method | Simple, Exponential, Smoothed, Linear Weighted |
| Applied Price | High, Low, Close, Open, Typical, Weighted, Median |
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| Signal Type |
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| Mark Buy/ Sell Signals | Arrows |
| Arrow offset (pips) | 5 |
| Arrow Size |
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| Mark Buy / Sell Text |
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| Text Size |
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| Up Color |
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| Down Color |
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| Alerts |
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| Alerts On | True/ False |
| Alerts Message | True/ False |
| Alerts Mobile | True/ False |
| Alert Sound | True/ False |
Alerts Examples:
Stochastic – USDJPY – 1H - Oversold Exit Signal (BUY), above MA [50,200] on TF (H1) and AO above 0 at 16:00 on 02.09.2022
Stochastic – AUDJPY – 5M - Overbought Exit Signal (SELL), below MA [50,200] on TF (M5) and AO is below 0 at 11:30 on 06.09.2022