Stochastic Profit Trend
The Stochastic Profit Trend indicator (hereinafter referred to as STP) is an excellent helper for determining the trend direction, with further enter based on it. STP can be used as an addition to your trading system, and as a self-sufficient system. The algorithm of STP is to determine the strength and direction of the trend based on the classic Stochastic and a further signal when crossing the overbought / oversold zone. With a combination of high trend strength and the intersection of such a zone, it is possible to enter in the direction of the trend at the very beginning. With the correct setting of parameters, the profit from a successful entry exceeds a loss by a factor of 10 to 50, which is a good opportunity to make money on the entire trend movement.
Recommendations for use
The default settings are recommended, but not mandatory. For each currency pair and timeframe, it is desirable to select your own parameters. Also for trading on this indicator, it is possible to use a short Stop Loss, since with a successful entry, kickbacks are minimal. To maximize profits, you can use order tracking by Trailing Stop, or in a similar way.
Explanation of the indicator settings
- MainPeriod - The main period of the STP indicator for the histogram
- History - The number of candlesticks for drawing arrows
- PeriodSTCH - Stochastic Period for Signal / Arrows
- ShiftSTCH - Stochastic Slowdown
- MethodSTCH - Type MA for Stochastic
- PriceSTCH - To what prices apply Stochastic
- Percent - What is the minimum percentage of the trend should be to trigger the signal
- HighLevelSTCH - What upper level should Stochastic cross for a Sell deal?
- LowLevelSTCH - What lower level should Stochastic cross for a Buy transaction?
- UseArrow - On / Off drawing arrows on the chart
- ArrowShift - Indent points from High / Low for drawing arrows
- UpColor - Color up arrow
- DownColor - Color down arrow
- UseNotice - Whether to use notifications (common to all of the following)
- UseAlert - Use Alert (sound notification)
- UseEmail - Use Email Notification
- UseMobile - Use push notification on mobile MT4
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