Stochastic Cross Alert Indicator for MT4 | Free Download
The Stochastic Cross Alert Indicator is a visual indicator that plots buy and sell arrows on the price chart.
This indicator basically calculates the stochastics values and plots when there is either an overbought or oversold condition.
There is no oscillator plotted here, but you can additionally use the stochastics oscillator just to reconfirm that the indicator is plotted values correctly.
When Should You Go Long using the Stochastic Cross Alert Indicator
First look for the Stochastic Cross Alert Indicator to plot an up arrow, after a local high is formed.
Then place a pending long order at this local high.
When Should You Exit your Long Positions
You can exit long positions based on a fixed risk to reward ratio.
Alternately, you can trail your stops and wait until the opposite signal appears on the chart.
When Should You short using the Stochastic Cross Alert Indicator
Enter a short position when the Stochastics cross alert plots a down or a red arrow.
Then place a pending short order near the pivot low that formed prior to the signal that was generated.
When Should you Exit Your Short positions
Exit the short position with a fixed risk to reward set up.
You can also trail your stops such that you get an opposite buy signal.
Where to set the stop loss
For long or short positions, always look to the recent swing high or low points which are formed prior to your trigger for initiating the position.
You can also choose to set your stop loss at or above the high or the low at the entry point of your trade.
The Stochastic Cross Alert Indicator is a simple indicator based on the traditional Stochastics oscillator.
This indicator simply plots buy and sell arrows as and when there is an OB OS level or when the stochastics is crossing the zero line.
Increasing Your Win/Loss Loss Ratio
When you add the Stochastic Cross Alert Indicator and use it together with a proven trend trading system like the Elite Swing Trader or Simple Trend Trading System, you can only expect to achieve a better win ratio and better risk-reward ratio.
Recommended Time Frames
Technically speaking, you can use this MT4 indicator for all time frames.
However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly.
We recommend that you use higher time frames like the H4 for better consistency.
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