Stochastic Cross Alert Indicator
Using signals from the traditional stochastic indicator, this stochastic cross alert MT5 indicator generates automated alerts. On the price chart, it displays buy and sell arrows directly.
- Description
- Indicator Settings
Description
A very basic instrument that lets you trade the Forex market using the signals from the traditional stochastic oscillator is the Stochastic Cross Alert indicator.
Arrows will appear on the price chart when you add the Stochastic Cross Alert indicator to your chart in the Metatrader 5 platform.
Stochastic crosses provide bullish and bearish signs, which are shown by arrows.
Sell Signals for Stochastic Cross Alert Indicator
The indicator’s straightforward arrow indications make it incredibly user-friendly for Forex trading. A bullish trend is indicated by green arrows, and a negative trend is indicated by purple arrows.
To initiate a purchase transaction, wait for a bullish price confirmation and a green arrow. When the opposing signal shows up or the target profit is met, take a profit. Set a stop loss below the previous low.
On the other hand, hold off on initiating a sell transaction until a bearish price confirmation and a purple arrow appear. When the opposing signal shows up or the target profit is met, take a profit. Set a stop loss above the previous high.
You can also modify the periods of the intersecting lines in the indicator settings to alter the overbought and oversold levels as well as the signal frequency. Additionally, switch the email and sound alerts on and off.
Conclusion
You can avoid missing the buy and sell signals that the traditional stochastic indicator offers by using the MT5 Indicator.
A very sensitive technical indicator is stochastic. gives signals very frequently. Since the majority of the signals will be erroneous and the commission paid to the forex broker will increase dramatically, trading these signals can be annoying. Thus, you can use it with other strategies to decide how to trade foreign exchange.
Get the MT5 Stochastic Cross Alert Indicator for free right now!
For all markets and time periods, the default values are usually acceptable.
SoundON: Configures the sound alert signal.
EmailON: Configures the email alert signal.
K Period: Main period for the Stochastic indicator.
D Period: Moving average period for the Stochastic indicator.
Slowing: Sets the slowing period for the Stochastic indicator.
MA Method: Selects the method for the MA line calculation.
Price Field: Sets up the price field used for calculations.
Overbought: Configures the overbought zone settings.
Oversold: Configures the oversold zone settings.
Show KD Cross: Determines when to show arrow signals for KD cross.
Show K OBOS Cross: Specifies when to show arrow signals for the K OBOS cross.
Show D OBOS Cross: Specifies when to show arrow signals for the D OBOS cross.
