The Div Stoch V5 forex indicator for metatrader 4 is based on the popular Stochastic trading indicator.
The Div Stoch V5 indicator oscillates between 50 and 100 readings.
It draws green and red histogram bars in a separate window below the main activity chart.
A green bar indicates the trend is bullish and traders look for buy trade opportunities.
Conversely, a red bar indicates the trend is bearish and traders look for sell trade opportunities.
This indicator works for scalping, day trading and swing trading on any currency pair.
The GBP/USD H1 chart below displays the Div Stoch V5 forex indicator in action.
Basic Trading Signals
Signals from the Div Stoch V5 MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy position when the histogram of the Div Stoch V5 starts drawing green bars (bullish).
Sell Signal: Open sell position when the histogram of the Div Stoch V5 starts drawing red bars (bearish).
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (StochPeriod, Sensitive) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Signals | Oscillator
Copy and paste the div-stochv5.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)