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Stochastic With Alert

Are you following higher time frame trend to enter low risk trades in a lower time frame. The Stochastic with alert MT4 indicator provides the higher trend direction and buy and sell arrow based forex trading signals.

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Description

The Stochastic with alert MT4 indicator plots the stochastic values of a higher time frame on the current chart. This enables forex traders to understand the underlying bullish or bearish trend on a higher time frame. As a result, it helps traders to identify the best entry and exit points in the lower time frame. Moreover, the indicator generates forex trading alert and buy and sell arrow trading signals as the stochastic lines crossover.

Features of Stochastic with Alert MT4 Indicator

The indicator plots the blue up buy arrow on the indicator window and price chart in a bullish market condition. Similarly, it plots a red down arrow sell arrow if the trend is bearish. The indicator generates the trading signals whenever K and D line of the stochastic oscillator crossover each other.

By default the indicator uses the H4 price chart for stochastic calculation and plots it in a separate indicator window. However, traders can adjust these input settings to accommodate their trading style.

The H4 Stochastic values provide trading signals for short and long-term forex traders. However, intraday traders should consider choosing H1 as a higher time frame.

Traders can follow the arrow trading signals and enter the markets with a stop loss below the previous swing low/high. The best strategy to book profit is to exit at an opposite trading signal.

Benefits of Stochastic with Alert MT4 Indicator

Stochastic indicator is a reliable technical analysis indicator and is an integral part in many forex technical trading strategies. This multi time frame (mtf) indicator provides the solution to technical traders using higher time frame to identify the trend direction.

Indicator Settings Description

TimeFrame: Indicator use this time frame for stochastic calculation.

KPeriod:, DPeriod:, Slowing: Inputs for stochastic.

MAMethod:, PriceField: Moving average calculation method and price type.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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