DislikedThis is an added feature that I included on my stoch histogram. I basically overlayed ( drop and drag )the regular stoch indicator over the top of the histogram to determine the correct levels. Stoch uses 80,20, the histogram used is 30,-30 and matches up nicely. Using ob/os can help you get into trades a candle or two early.
In reference to your chart Imran I am experimenting with using the .70 (red)
and the .55 (blue) When the red lag is pinned against the top you can use the blue lag to scalp when the price retraces on an up or down trend in conjunction using the ob/os histogram.
In reference to my chart you can see that the trend is up red lag pinned at top and blue lag retraces down to the 50 and exit when it crosses back over.Ignored
PipCop,
the last couple of days I've been experimenting with your idea of adding -30 & 30 levels to the StochHist indicator.
I must say that if I only take signals when the last StochHist swing was over 30 or below -30, the results are definitely better. It's a very nice filter; a few trades less perhaps, but a whole lot less risk...
Thanks for this addition to Imran's splendid system.
happy trading & have a nice weekend to you all!
Ohka