[bossxero]

Here is a new flavor of the stochastics indicator for the metatrader platform. As you may already know, the stochastics is a very popular indicator and can be see in almost 90% of trading systems. Some like to use it for exiting trades but most like to use it as and oversold/overbought indicator. No matter, how you use the stochastics, you always have to hurt your eyes to hunt for the stochastics crosses etc... This indicator below draw the same stochastics values but paint it on a histogram like the MACD, and even better, it is in 2 colors... Green for bullish and Red for bearish. You should take note that this indicator is not to be used standalone for trading signals, but should be used in relation with other trading indicators altogether. Go ahead and download it below.

[kingofsofia]

Definetely useful. You said it very well, you can go blind trying to figure out if the two lines have crossed or not

[Michael Z]

I try to download it but seems error and failed...

my internet connection or firewall maybe cause the problems...

just a small file..sigh2

[FXP]

Nice! Its like the MACD histogram (difference from signal line)/?

[bossxero]

Yeah it is like the MACD and strains less your eyes

[forexnews84]

friend

help me dowload it

I get an error when downloading

thanks

[therumpledone]

Another lagging indicator?

"Like moths to a flame..."

And you wonder why 95% of traders lose?

From ANIMALS IN TRANSLATION:


"That's the big difference between animals and people, and also between autistic people and nonautistic people. Animals and autistic people don't see their ideas of things; they see the actual things themselves. We see the details that make up the world, while normal people blur all those details together into their general concept of the world. We abstractify, and these abstractifications become our reality." - pg 30


"Our brains are wired to see connections and correlations, not coincidences and happenstance. Moreover, our brains are wired to believe that a correlation is also a cause." - pg 100

START LOOKING AT PRICE OR ELSE THE RAT WILL BEAT YOU!

[scorpion]

Originally Posted by therumpledone

START LOOKING AT PRICE OR ELSE THE RAT WILL BEAT YOU!

Ah, you forgot that the highest/lowest pivots you used is sometimes half a day back in the past. So what make you think it's better than a 12-period SMA plotted on a 1H chart?

Your rat reversal is based mainly on a cognitive bias--anchoring effect to be precise.

[oilfxpro]

Originally Posted by scorpion

Ah, you forgot that the highest/lowest pivots you used is sometimes half a day back in the past. So what make you think it's better than a 12-period SMA plotted on a 1H chart?

Instead of pivots points you could use a percentage turning point or atr reversal point .Fact is neither the pivot points nor percentage reversals , fib retracements and atr are ever proven to to be better than coin toss.

These useless indicators are free for reason , because they are useless.95% of traders blow their accounts using these indicators.

The only people who make money are the platform developers and sites promoting these useless indicators.

[zupcon]

Originally Posted by oilfxpro

Fact is neither the pivot points nor percentage reversals , fib retracements and atr are ever proven to to be better than coin toss.

These useless indicators are free for reason , because they are useless.95% of traders blow their accounts using these indicators.

The only people who make money are the platform developers and sites promoting these useless indicators.

To my absolue surprise and amazement, pivots actually provide a statistically significant edge IF you know how that edge can be used. What is amusing is that every single suggested use of pivots that I've seen on websites and books and from so called traders results in a negative edge. That should not come as a surprise really, because the people writing this stuff either have an adgenda to exploit the stupid and gullible, or theyre idiots like you, repeating garbage parrot fashion, and in doing so pandering to their adgenda, resulting in the blind following the blind.

There are at least 3 academic studies to my knowledge on the use of fibs as support and resistance, undertaken by people who have so little market knowlege, that they are forced into a life of slavery working in university departments. Even these fools, conclude that support and resistance is a statistically valid concept. There's at least 2 studies from bank's that indicate support and resistance levels are a statistically valid concept

I'm not even going to waste my time discussing ATR on the basis you are completely incapable of comprehension.

Indicators are free because they are a marketing tool, and yes, they provide an illusion that they simlify the task of trading. Most tools are useless in the hands of idiots. If I gave most people a hammer a chisel and a block of marble, they'd hand me back a bag of gravel, one in a million might produce a work of art

The fact that 95% of traders lose money using indicators is completely irrelevant. Its like saying 95% of people who died today brushed their teeth at some point in the last week. The two events are completely unconnected. People lose money for a whole bunch of reasons, they'd lose money trading price action, they'd lose money flipping a coin, they'd lose money if they where given a system on a plate, hell, most of em would even lose money if you gave them a fully automated profitable EA ! (and you see em do it day in day out on these forums)

You lose money everyday because you are totally unsuitable to the task, you are attraced like a moth to a flame to the very worst trading methods imaginable, you are the perfect mug punter. You are a bucketshop brokers dream, and the amusing thing is, your results indicate exactly what the problem is, and yet you are too blind and too stuborn to see.

I'm tempted to start a thread describing the process of writing an EA based completely on the lagging indicator posted above, just to prove how remarkably simple this stuff is to some of us.