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Advance Stoch Trend Colored

The principle of this indicator is very simple: detecting the trend with Moving Average, then monitoring the return point of a chart by using the crossing of Stochastic Oscillator and finally predicting BUY and SELL signals with arrows, alerts and notifications. The parameters are fixed and automatically calculated on each timeframe.

Example:

  • If you install indicator on EURUSD M5: the indicator will detect the main trend with the Moving Average on this timeframe (for example, the Moving Average indicates the "up trend")
  • If the indicator detects the "up trend", it will monitor for Stochastic Oscillator to show "cross up" of the main line/signal line below position the lower 20 level for reversal trend, or between 80-20 position level for follow trend
  • Finally, the indicator will show an "up arrow" in the chart window and send alert message with notification, such as "BUY EURUSD"
  • If the indicator detects opposite conditions of above, it will show the opposite result.


Installation

  • Attach this indicator to the chart window of currency pairs
  • The recommended currencies are EURUSD, GBPUSD, USDJPY, EURJPY, GBPJPY, USDCHF, GBPCHF and XAUUSD
  • The recommended timeframes are M1, M5, M15, M30, H1, H4 and D1


Parameters

  • Trend Period1: 3 – amount of candlesticks on the current trend period
  • Trend Period2: 17 - amount of candlesticks on the current trend period
  • Stoch_K_Period: 5 - Stochastic setting. Period for calculating the Stochastic %K line.
  • Stoch_D_Period: 3 - Stochastic setting. Averaging period for calculating the %D line.
  • Slowing: 3 - Stochastic setting. Slowing value.
  • Fast_SMA_Period: 2 - SMA period.
  • Slow_SSMA_Period: 3 - SSMA period.
  • Audible_Alerts: enable/disable audible alerts.
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This indicator will detect harmonic patterns that are drawn on the chart by manual and automatic methods. You can see user manual from this link: Notes Indicator has control panel and it will save every (chart & timeframe) settings. You can minimize it to have more space on chart and you can press close button to hide all indicator data on chart if you prefer to work with other analysis tools  When you use this indicator and change the settings, add indicators like Moving Average or Bollinger
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