Stochastic Cross Alert Metatrader 4 Indicator
The Stochastic Cross Alert indicator draws a buy arrow on the chart when the indicator lines cross each other from below 20 back above (oversold readings). Similarly, a red sell arrow appears on the chart when the lines cross each other from above 80 back below (overbought readings).
80+ readings: overbought
20- readings: oversold
The Stochastic Alert indicator works great in a trend less (flat) environment but will fail in a trending market. Therefore, first identify the overall trend and take the appropriate signals in the direction of the prevailing trend. For example, in a bullish trend, only pay attention to the green oversold signals.
Configurable Indicator Options
KPeriod, DPeriod, MA_Method, SoundON, EmailON
AUD/USD 4 Hour Chart Example