I have been using a unique stochastic technique that I have not seen anywhere else. It involves setting non-traditional parameters on the stochastic and waiting for price to go an "extended distance in Pips" from the last time it touched the 10/90 Level on the stochastic. I have been using this for a while now with tremendous success across multiple time-frames. Price will very often touch these 10/90 levels, but I am specifically looking for the times when it has been a large number of pips since last touching the 10 Level and is now touching the 90 Level or it had touched the 90 Level a large number of pips ago and is now touching the 10 Level. It is these exaggerated conditions along with proper entry signals that make it so powerful.
I am hoping someone may know of an indicator like this or if someone might be willing to design one. I have one that alerts when 10/90 levels are touched, but again these happen frequently and are not enough of a valid signal on their own. I need the times when it has been a large number of pips since the last time price touched the opposite 10/90 Level and is just now touching the other. I like to watch a large number of pairs and wait for these specific conditions to happen, before looking for a potential entry. This is why an indicator would be so helpful.
To work effectively the usual stochastic settings/parameters have to be adjustable like they typically already are on the stochastic indicator. The "number of pips since previous opposite touch" of the 10/90 Level would also need to be adjustable since it can vary due to higher or lower volatility pairs. Equally important is that it would need to have both a Pop-up and Push Alerts feature, preferably stating specifically which pair is alerting, so we are notified when these conditions are happening.
This is a proven method of taking pips and can help just about anyone add to their trading success. Having the indicator will just make them so much easier to find. Time is of the essence with these trades as price is overstretched and tends to snap-back quickly, which is another benefit!
I hope someone can help with this request
Thanks in advance!
I am hoping someone may know of an indicator like this or if someone might be willing to design one. I have one that alerts when 10/90 levels are touched, but again these happen frequently and are not enough of a valid signal on their own. I need the times when it has been a large number of pips since the last time price touched the opposite 10/90 Level and is just now touching the other. I like to watch a large number of pairs and wait for these specific conditions to happen, before looking for a potential entry. This is why an indicator would be so helpful.
To work effectively the usual stochastic settings/parameters have to be adjustable like they typically already are on the stochastic indicator. The "number of pips since previous opposite touch" of the 10/90 Level would also need to be adjustable since it can vary due to higher or lower volatility pairs. Equally important is that it would need to have both a Pop-up and Push Alerts feature, preferably stating specifically which pair is alerting, so we are notified when these conditions are happening.
This is a proven method of taking pips and can help just about anyone add to their trading success. Having the indicator will just make them so much easier to find. Time is of the essence with these trades as price is overstretched and tends to snap-back quickly, which is another benefit!
I hope someone can help with this request
Thanks in advance!