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This is a very interesting thread. Stochastics has an excellent benfit of showing divergence in addition to the OB/OS areas mentioned. There are some traders who ONLY use divergence on Stochastics but I particularly look for divergence in the OB/OS areas using 85/15 as my guide, not the usual 80/20. Also I look for divergence on the 'K' setting only and ignore the 'D'.
Finally, there are many settings of Stochastics and the normal setting is not one that I can recommend but the one I use for divergence is 8-3-3. If you get one up and running share it with a few and sell it to the many! Hope this helps the techies!! TEAMTRADER |
Would Like An Email Alert Added To This Indicator Please
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Hi Scorpion. I Really Do Appreciate Your Work. I Am Asking Though If You Could Please Add An Email Alert To One Of Your Previous Works. Thanks In Advance
EA Shark +1064% Return
Stock Market Crash? No Problem! We Are Making Profits As Usual. More Info |
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New to this site and want to thank all of you for such great indicators...tried out the Stoch_Alert and thought it would beneficial to have the currency pair listed in the alert...for those that trade more than one pair at a time...any help or modification would be appreciated...
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This indicator is great, but I think it would be even better if coupled with the RSI such that it gives the alert only when the both the Stoch and RSI enter OB or OS levels, at which point the trader can monitor for the retracement. Reason I say this is because using one or the other tends to give a lot of false signals, but together the signal is usually authentic and imports a retracement rather than mere noise.
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