The super Stochastic buy/sell indicator is a colored trend-following signals oscillator that works well for any pair and time frame.
It combines the traditional Stochastic oscillator with a moving average.
Super Stochastic uses a default 89 period for Stochastic and 9 for the moving average.
Buy and sell signals goes as follows:
- A green oscillator line represents a buy signal.
- A red oscillator line represents a sell signal.
- A yellow oscillator line represents a neutral trend.
Feel free to experiment with the different indicator’s inputs settings to suit your needs and preferences.
The EUR/USD 1-Hour chart below displays the Super Stochastic Buy/Sell Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the Super Stochastic Buy/Sell MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy trade when the Super Stochastic indicator changes color from yellow (neutral) to green (bullish).
Place a stop loss below support or use your own preferred SL method.
Sell Signal: Open a sell trade when the Super Stochastic indicator changes color from yellow (neutral) to red (bearish).
Place a stop loss above resistance or use your own preferred SL method.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (time frame to use, Stochastic period, price to use for high, price to use for low, price filtering method, MA period, overbought level, oversold level, alerts) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Type: trend oscillator
Copy and paste the adx trend (mtf + arrows + alerts).ex4 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)