The Stochastic Signals Alert forex indicator alerts you via on screen alert, email alert and push notifications when the Stochastic indicator goes below 20 (oversold) or above 80 (overbought).
The Stochastic Signals Alert works great in a range-bound market but will fail in strong trending markets.
Therefore, the Stochastic oscillator indicator needs to be used in agreement with a trend following indicator such as Bollinger Bands, moving averages or ADMI.
Trade signals from the Stochastic Signals Alert MT4 indicator in the direction of the overall trend.
- Overall trend up? Trade the oversold Stochastic signals and ignore the overbought signals.
- Over trend down? Trade the overbought Stochastic signals and ignore the oversold signals.
Furthermore, the Stochastic Signals Alert indicator displays the following Metatrader 4 account info on the main trading chart (can be turned ON and OFF).
- Broker name
- Account number
- Trade Mode (demo or real)
- Free Download
The USD/CHF 1-Minute chart below displays the Stochastic Signals Alert Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Stochastic Signals Alert MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open long position when the Stochastic Signals Alert MT4 indicator displays “open BUY order” on the chart. Confirm the possible buy trade with other technical indicators or with price action methods. Place a stop-loss below trading support.
Sell Signal: Open short position when the Stochastic Signals Alert MT4 indicator displays “open SELL order” on the chart. Confirm the possible sell trade with other technical indicators or with price action methods. Place a stop-loss above trading resistance.
Trade Exit : Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (K period, D period, slowing, display alerts, email alert, push notifications, display trade info) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the StochasticAlerts.mq4 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)