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Yes. And ???
I don't know which came first, Stochastic or WPR, but all information given by WPR as available within Stochastic, so why create another indicator ? One may wonder how much of these indicators in the codebase actually brings something new.
I am using Stochastic all the time for trading. As to programmer - yes, as indicators are fully identical - it does not matter which one.
You just asked for additional filters so I am trying to find :)
Besides, - if we look at MT5 CodeBase so AbsoluteStrength indicator is also good especially if this indicator is already coded in market condition way here - AbsoluteStrengthMarket
I mean: we can take market condition codes from AbsoluteStrengthMarket for example. We here - all the indicators from MT5 Codebase:
MetaTrader Trading Platform Screenshots
EURUSD, H1, 2013.04.01
MetaQuotes Software Corp., MetaTrader 5, Demo
asctrend market
By the way - Stochastic woks here with 14/5/5, price close, method simple (this is asctrend indicator + defauls Stochastic):
MetaTrader Trading Platform Screenshots
EURUSD, M15, 2013.04.01
MetaQuotes Software Corp., MetaTrader 5, Demo
asctrend stoch
I mean - it works in overbought/oversold way.
You can see here:
MetaTrader Trading Platform Screenshots
EURUSD, D1, 2013.04.01
MetaQuotes Software Corp., MetaTrader 5, Demo
asctrend 1
MetaTrader Trading Platform Screenshots
EURUSD, D1, 2013.04.01
MetaQuotes Software Corp., MetaTrader 5, Demo
asctrend 1
So, it may be coded for different way:
and so on
By the way - Stochastic woks here with 14/5/5, price close, method simple (this is asctrend indicator + defauls Stochastic):
I mean - it works in overbought/oversold way.
And this is same setup + NRTR Color Line indicator with Coefficient = 1.0 in the settings. I mean - we can use this NRTR for stop loss / trailing stop for example.
MetaTrader Trading Platform Screenshots
EURUSD, D1, 2013.04.01
MetaQuotes Software Corp., MetaTrader 5, Demo
asctrend nrtr
By the way - I like IXOAH indicator more than WPR or Stochastic https://www.mql5.com/en/forum/11353/page2#comment_462046
So, it is matter of choice.
And this is same setup + NRTR Color Line indicator with Coefficient = 1.0 in the settings. I mean - we can use this NRTR for stop loss / trailing stop for example.