Stochastic Cross Alert Indicator
Platform: MT5 Type: Oscillator Last update: December 21, 2024The Stochastic Cross Alert Indicator for MT5 is a technical trading tool that simply utilizes crossovers of signal lines from the renowned Stochastic gauge. It conveniently displays buy and sell arrows directly on the price chart for immediate visual reference. This user-friendly approach ensures that trader with any level of exeprience can quickly reap its benefits.
Let’s have a closer look at the indicator and how to play it in practice.
How to apply these Stochastic Cross arrows in trading?
As you can see in the above example, the core elements are arrows. The green arrow signifies a bullish trend, while the purple arrow suggests a bearish trend.
The formula behind these signals is based on intersections of the %K line and the %D line. A long signal is generated when the %K line crosses over the %D line. Similarly, a sell signal is provided when the %K line crosses below the %D line.
Adjusting signals frequency
That’s true, there are lots of arrows on the chart. In the settings tab you can adjust oscillator periods and therefore change frequency of their occurences.
Still, we recommend to combine it with other technical tools to increase success rate and to get more holistic picture of the market. The Stochastic Cross Alert acts reliably as a trade entry provider, but some other indicator should filter out fake ones. Well, obviously it’s best to trade only in the direction of the main trend. Hence, even moving average is a good starting for this purpose.
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