I'm a new on Forex? but I also often use this indicator.but as to me it isn't my favourite thing and sometimes it doesn't really help me..
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DislikedWell, you say that you are new to Forex. Then, you might need to learn first of all to trade based on 1. trend, 2. chart patterns (double top, head and shoulders etc.), 3. candlestick combination (only on D1 and H4) and 4. divergences (using moving average of oscillator or MACD at the beginning).
Now, after you will be able to make predictions based only on the chart than (and only than) try to begin developing a strategy by using (first) an indicator (you will add other by time). An indicator only confirms that \"now it would be good to enter\" but it doesn't need to be a vital decision factor... it's auxiliary (you could enter without it's \"help\" but you just want to be a little more sure about the position). About stoch, read she stoch7 from the first post of this thread... but only after you learned what you should
Hope this helps.
See ya'Ignored
Dislikedim not sure how this color stoch indicator is any help. ive tried it and come to the conclusion that it just shows a turn in the direction of the K line, but that is not always an indication of a turn in price direction.Ignored
DislikedWell mtuppers, you indi reminded me of a thing that I would like :
Lets say we have stoch with the interval of 80 and 20 (classic). Well, for MT4, it's a stoch version that makes the indi to change the color when it's out of the extreme intervals? I mean line K% let's say it's orange and D% yellow when are in the 20-80 but when they are outside k% id red and D% pink. is it? a? a? a? is it?
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DislikedI know this color thing is useless ... but just for the fun (I could say that it's more \"standardized\")Ignored
DislikedLets say we have stoch with the interval of 80 and 20 (classic). Well, for MT4, it's a stoch version that makes the indi to change the color when it's out of the extreme intervals? I mean line K% let's say it's orange and D% yellow when are in the 20-80 but when they are outside k% id red and D% pink. is it? a? a? a? is it?Ignored
DislikedAre you referring to the different settings?
If so, I find them to be useless as there is no recommended time frame for the setting to be used on.
I think the PDF's have great info, but the suggested settings mean nothing without a note under them to show a suggested timeframe.Ignored