The indicator contains 8 Stochastic oscillators.
The default value of «Slow» and «period %D» parameters is left – 3. %K will change from 6 to 24.
Thus, we have 8 Stochastics with the following parameters (6, 3, 3), (9, 3, 3), (12, 3, 3), (14, 3, 3), (16, 3, 3), (19, 3, 3), (21, 3, 3), (24, 3, 3).
Only the main line is used for all indicators.
When all Stochastics are gathered together forming a single thin line (a bundle of lines), we should prepare for a deal. The bundle should form the peak and turn in the opposite direction. This is the moment for market entry. The peak should be located within overbought / oversold areas or near their borders.
Color bars are set when all Stochastics leave overbought / oversold areas.
MT5 Indicator – Download Instructions
SpudsStochastic is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
SpudsStochastic provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install SpudsStochastic.mq5?
- Download SpudsStochastic.mq5
- Copy SpudsStochastic.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on SpudsStochastic.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator SpudsStochastic.mq5 is available on your Chart
How to remove SpudsStochastic.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: