Wallaby Metatrader 4 Indicator
The Wallaby indicator is based on the popular Stochastic indicator developed by George C in the 1950s. Extreme signal readings can be found at 80 (overbought) and 20 (oversold). It’s designed to trade pullbacks with tight stop-losses in trending markets or to identify price and indicator divergences.
BUY: In uptrending markets – Look for oversold readings around 20.
SELL: In downtrending markets – Look for overbought readings around 80.
Use in conjunction with other technical indicators to identify the primary trend.
Configurable Indicator Options
KPeriod, DPeriod,Slowing, Timeframe 1, Timeframe 2, Timeframe 3
AUD/NZD 15 Min Chart Example