This indicator signals about Stochastic crossing in the trend direction which is determined by the position of the price relative to the Ichimoku cloud.
- Flexible settings:
- filter by signals by bullish/bearish bars (parameter "BUY - the bullish bar only; SELL - the bear bar only");
- setting levels of Stochastic crossing (parameters "BUY-signal if Stochastic below this level" and "BUY-signal if Stochastic below this level")
- ability to use the Ichimoku cloud of higher timeframes (parameter "Timeframe of Ichimoku Cloud").
- Label in the upper right corner will show you the trend direction:
- arrow up indicates that the price is above the Ichimoku cloud;
- arrow down indicates that the price is below the cloud;
- O - the price is in the cloud (flat: in this case the signal will not be generated).
- The signal is given not only when the bar is closed (formed signal), but also on the current bar which is not closed yet (probable signal). It gives you time to analyze the market situation and allows you to take a time when making a decision and calculating trade parameters.
- Emails and push notifications to mobile devices (parameters ON/OFF-Mail and ON/OFF-Push).
- The indicator can generate a signal for early exit from the trade when lines of the Stochastic are reversely crossed (against the trend).
You can enable and disable this option using a button in the lower right corner of the chart (adjustable parameter). Enable this button only if you are in the market and want to close a trade by a reverse Stochastic crossing. You can remove this button from the chart if you do not need this option (parameter “ON/OFF - Reverse signal button”=false)
Good results are obtained with default parameters, if you set a timeframe of the Ichimoku cloud one level higher than the current one. For example you attach the indicator to a chart with М1, and set the cloud timeframe (parameter "Timeframe of Ichimoku Cloud") to М5. If a chart has М30 timeframe, set H1 as the cloud timeframe, etc.
----- Stochastic Parameters -----
- K Period – period for calculating Stochastic %K line.
- D Period – period of averaging for calculating the %D line.
- Slowing – value of slowing.
- BUY-signal if Stochastic below this level – buy signal appears if the Stochastic is below this level
- SELL-signal if Stochastic above this level – sell signal appears if the Stochastic is above this level
- BUY - the bullish bar only; SELL - the bear bar only – if =true, the signal bar must be bullish when buying and bearish when selling.
----- Ichimoku Cloud Parameters-----
- Tenkan-sen – Tenkan Sen averaging period.
- Kijun-sen – Kijun Sen averaging period.
- Senkou Span B – Senkou Span B averaging period.
- Timeframe of Ichimoku Cloud – timeframe to calculate the Ichimoku cloud (must be equal to or higher than the current timeframe)
----- Trend Pointer Parameters (arrow in the upper right corner) -----
- ON/OFF - Draw the arrow of the trend – enable/disable the trend pointer
- Color of Up-trend – arrow color for the bullish trend
- Color of Down-trend – arrow color for the bearish trend
- Color of flat (no signal) – arrow color for flat (the price is in the Ichimoku cloud; signals are absent)
----- Notifications and Sound Settings -----
- ON/OFF – Sound when the signal sound signal
- File name of sound (signal is already generated) – name of the sound file played on already formed signal (close bar)
- File name of sound (possible signal) – name of the sound file played on probable signal (current bar)
- ON/OFF - Alert – enable/disable in the terminal when signals emerge
- ON/OFF - Mail – sending emails
- ON/OFF - Push – sending push notifications to mobile devices
----- Revers Signal/Early Exit Button -----
- ON/OFF – Reverse signal button – enable/disable displaying the button of early exit signal
- Chart corner for button – chart corner where the button will be displayed
- X coordinate – X coordinate (in pixels) to display the button
- Y coordinate – Y coordinate (in pixels)
- File name of sound (reverse signal) – name of the sound file to play in case of a reverse signal
You can test the indicator's demo version here
1. Many traders have been asking to display the Ichimoku cloud with together with the Stochastic in order to monitor the indicator operation. Unfortunately, the MetaTrader 4 terminal does not provide the ability to render indicators in the subwindow and in the main window simultaneously.
A way to override this limitation has been found - now the indicator is able to load both the Stochastic in the subwindow and the Ichimoku cloud in the main window. They are loaded using a template.
2. Now the timeframe of the Ichimoku cloud is set by the shift relative to the current timeframe (it can be =0, >0, <0). 1 means higher by 1 timeframe, 2 - higher by 2. -1 means a timeframe lower than the current by 1 period, etc. For example, when the current period is M15, if you set the parameter to 1, the indicator will display the Ichimoku cloud data on M30, and if you set it to -1, the indicator will display the Ichimoku cloud data on M5.