Many Forex traders prefer to work with simple software products, which, nevertheless, are quite profitable. One of the good developments is Stochastic Cross Alert, based on the standard Stochastic algorithm. This arrow indicator is ideal for binary options trading, as it shows each binary options signal with a corresponding arrow.
The “mechanism” of the Stochastic Cross Alert indicator
The name of the indicator speaks for itself: “Intersection Notification”. The tool visualizes Stochastic signals for the user, offering to buy or sell:
- when the %K or %D lines cross user-set overbought or oversold levels;
- when one Stochastic line crosses the second.
Classic Stochastic displays data separately, in a special window; a modified tool draws the corresponding arrows above or below the chart:
- green (call) - buy, currency pair quotes will rise;
- red (put) - sell, price reduction will begin.
Stochastic Cross Alert indicator settings:
To optimize the indicator for yourself, it is important to know its capabilities and basic options that can be changed. Let's look at what parameters this tool has:
- SoundON allows you to enable or disable the sound notification;
- EmailON - the indicator sends a signal by email to the user. The box specified in the profile on Metatrader4 is used.
- Kperiod , DPeriod – periods that are taken to calculate the %K and %D lines;
- Slowing _ priority deceleration period;
- MA_Method – the Mooving Average smoothing method used, indicated by one of the numbers: 0 – simple; 1 – exponential; 2 – smoothed; 3 – linearly weighted;
- OverBoughtLevel and OverSoldLevel - setting overbought and oversold levels;
- PriceField – what price the calculations are based on: 0 – maximum/minimum; 1 – closing/opening of the candle.
A number of settings relate to enabling or disabling notification types:
- Shod_K_OBOScross and Shod_D_OBOScross - lines %K and %D, respectively, warn of entering the oversold or overbought zone of an asset;
- Shod_KD_cross — signal when two Stohastik lines cross each other - %K and %D.
Instructions for installing indicators in MetaTrader 4:
Recommendations for the trader:
The indicator will be useful in trading if you take into account a few tips:
- the signal becomes valid at the opening of a new candle;
- filter the information received by using the indicator as part of a trading strategy;
- To understand the extensive functionality of the tool and the available settings, first test it on a demo account.
Download the Stochastic Cross Alert indicator
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Can't figure out how this strategy or indicator works? Write about it in the comments to this article, and also subscribe to our YouTube channel WinOptionSignals , where we will definitely answer all your questions in the video.
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