Indicator alert showing different result

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Hi 

I am pretty new to this, I have downloaded a stochastic cross alert indicator, but I don't get my expected result.

On a M15 chart, I literally have signal every 15 mins, and the buy and sell signal is just totally wrong. 

I have attached the code, and someone please help me to debug this.

Many thanks

Vic

Files:
Stoch_Crossing.mq4  10 kb
 
luckyvictor:

Hi 

I am pretty new to this, I have downloaded a stochastic cross alert indicator, but I don't get my expected result.

On a M15 chart, I literally have signal every 15 mins, and the buy and sell signal is just totally wrong. 

I have attached the code, and someone please help me to debug this.

Many thanks

Vic

That is repainting indicator

Use some correctly coded stoch crossing indicator

 
Mladen Rakic:

That is repainting indicator

Use some correctly coded stoch crossing indicator


Thank you for your quick reply.

What do you mean exactly please? I don't quite understand why it is not a correctly coded stoch crossing indicator.

I understand the code in this way, when K cross D, it draws an arrow on the chart, and at the same time sends out alert. However, I don't understand why the drawing is done outside the if condition of the newbar.

  
stochastic1now      = iStochastic(NULL,0,KPeriod1,DPeriod1,Slowing1,MAMethod1,PriceField1,0,i);
stochastic1previous = iStochastic(NULL,0,KPeriod1,DPeriod1,Slowing1,MAMethod1,PriceField1,0,i+1);
stochastic1after    = iStochastic(NULL,0,KPeriod1,DPeriod1,Slowing1,MAMethod1,PriceField1,0,i-1);

stochastic2now      = iStochastic(NULL,0,KPeriod1,DPeriod1,Slowing1,MAMethod1,PriceField1,1,i);
stochastic2previous = iStochastic(NULL,0,KPeriod1,DPeriod1,Slowing1,MAMethod1,PriceField1,1,i+1);
stochastic2after    = iStochastic(NULL,0,KPeriod1,DPeriod1,Slowing1,MAMethod1,PriceField1,1,i-1);

diff = stochastic1after - stochastic2after;
It is a repainting indicator. For any specific candle, it uses the stochastic before, current, and after. What you get at the start of a new bar is different than what you get at the end of the bar. Therefor it is useless for trading.
 
whroeder1:
It is a repainting indicator. For any specific candle, it uses the stochastic before, current, and after. What you get at the start of a new bar is different than what you get at the end of the bar. Therefor it is useless for trading.

So how does it iStochastic function work?


how can I create a useful stochastic cross alert please?

 
Look at the real Stochastic indicator Data Structure in MetaTrader 4 Build 600 and Higher - MQL4 Articles 17.02.2014
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