The Wallaby indicator for MT4 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.
Trading Signals
BUY: In up trending markets – Look for oversold readings around 20.
SELL: In down trending markets – Look for overbought readings around 80.
Use in conjunction with other technical indicators to identify the primary trend.
Download
Download the Wallaby.mq4 indicator.
Configurable Indicator Options
KPeriod, DPeriod,Slowing, Timeframe 1, Timeframe 2, Timeframe 3
AUD/NZD 15 Min Chart Example
How to install the Wallaby custom indicator in Metatrader 4?
- Download the Wallaby.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.