Another example showing a very nice long entry. Notice that the two MA bands show no trend, but the Stochastic cross with confirmation is a signal to consider.
Open to new approaches.
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Disliked{quote}For the High / Low price channel, this is great -> https://www.mql5.com/en/market/product/93063Ignored
DislikedAnother example showing a very nice long entry. Notice that the two MA bands show no trend, but the Stochastic cross with confirmation is a signal to consider. {image}Ignored
DislikedThey are used to determine if a short-term trend is in effect. If so, you may want to use the strategy as originally posted. If the bands are overlapping, you may want to put more emphasis on extreme stochastic levels, unless you decide to stay out of trades when bands are overlapping. You may even want to go counter-trend based on stochastic crosses at extreme levels. In general, some type of trend indicators are useful to have on the chart.Ignored
Disliked{quote} as I see, if the bands are overlapping it could signal to the trader that price isn’t heavily trending in any direction so you can capitalize on extreme over sold or overbought conditions because the market is more keen for a reversal. Where as if it was heavily trending extreme levels might never pull back and price makes a continuationIgnored