Hello traders,
I want to share this indicator, that I developed to display a stochastic oscillator on main charts.
Some of you may find it useful for your setups.
Used on higher timesframes, it interpolates the values of intermediate bars.
Below an example of a H4-5,3,3-stoch on a H1-chart.
Most settings are self-explaining and match those of the stoch, which comes along with MT4.
You can choose between line and dot-mode.
Overbought/-sold zones as well as the medium line are displayed as background rectangles instead of lines.
This is to prevent the chart from looking cluttered when using round level indicators for example.
Important note: Every time the price- or time-axis of the chart changes (this happens for example, when you scroll back and forth), the relative positions of the stoch lines and the rectangles have to be recalculated.
This happens on the next tick. When the tick volume is low, it can take some moments to refresh the chart.
On weekends, the chart doesn't refresh due to the missing tick feed !
Oliver
I want to share this indicator, that I developed to display a stochastic oscillator on main charts.
Some of you may find it useful for your setups.
Used on higher timesframes, it interpolates the values of intermediate bars.
Below an example of a H4-5,3,3-stoch on a H1-chart.
Most settings are self-explaining and match those of the stoch, which comes along with MT4.
You can choose between line and dot-mode.
Overbought/-sold zones as well as the medium line are displayed as background rectangles instead of lines.
This is to prevent the chart from looking cluttered when using round level indicators for example.
Important note: Every time the price- or time-axis of the chart changes (this happens for example, when you scroll back and forth), the relative positions of the stoch lines and the rectangles have to be recalculated.
This happens on the next tick. When the tick volume is low, it can take some moments to refresh the chart.
On weekends, the chart doesn't refresh due to the missing tick feed !
Oliver
Attached Image (click to enlarge)
Attached File(s)
