Spud's Predictive MTF Stochastics

Here it goes: UniversalStochastic_MainK_mj_v1.14.mq4

This is universal multifunctional stochastic.

As related to Spuds teaching: Only the K% Main Stochastic is calculated: (No D% line).

I hope it works as hoped for.

This will be my replacement for all stochastics I have used so far: No other one is any-more needed. (that's why: Universal)


Short Note of the options:

ShowBars=true : Displays color bars - if false it displays the Stoch Line

ConsiderColorOverBoughtSold=true; Related to Bars Display: uses for Oversold/Overbought additional Color ( In that area there is no direction check)

If false: Direction Check is everywhere and only UP, DOWN, FLAT color are used.

UseInterpolation: Uses for stochastic interpolation - can also be used with Color Bars (probably quite useful)

Related to the next option: if Interpolation is enabled we readjust always Data correctly (Hopefully


ReAdjustDataForPastBars=true; (if true Past Data are ReAdjusted (Line and Bars)

if false and no Interpolation is used: there should be no readjustment of Data (you see this only after some time with new data coming in (at first initialization all past data are correctly (hopefully)

set to false can be also a useful option


DontDisplayValuesAndSettings=false; if true: Values in the indicator window are not displayed: quite useful for instances where one uses multiple stochastics overlayed:

like the Rope or so MTF 4 or 5 stochastics.



Take a look at the pic for some more info

Here is an example which shows nicely what the difference to the old MTF Stochastic 2.

The extend of Higher TF till active ChartBar (I guess the other version was on purpose 'some might say that this extend is not correct: anyway I prefer it)


I attach the template for it in case someone wants to copy it. (uses UniversalStochastic_MainK_mj_v1.15

(the #MTFStochastic_mj_v2.0.mq4 was basically the original #MTFStochastic 2 small changes I did like remove the clock)


There is a bigger change to the original though: I will only display stochs if the chart TimeFrame is NOT higher than the StochTimeFrame. (again some might dislike it: but I prefer it that way)


This template is for a M5 chart.

If you switch to higher periods you get a error alert.

Template MTF plus Rope

Rope is for any TimeFrame.

All of it uses only one universal stoch k% indi: UniversalStochastic_MainK_mj_v1.15


Hope this helps to get started. In case I do some template for Color Bars I might post one or the other.

But that's all so far I guess.

BTW: how nice the rope without the values all over

PS: you guys are aware that Spud later changed Rope Stochs to use 6-24,1,1 instead of 6-24,1,3(well this one follows the original with Slowing 3)

Sometimes it is difficult to see if a stoch is turning up or down. especially from Higher MTFs.

In this case an added Stoch Colorbar with same settings and Interpolation can make it easier to spot.

This example template uses the Interpolation and the Up/Down direction for the H4 Violet one

hi,

I did some more work on the Universal Stochastic. Highlighted the most important changes.


UStochastic_mj_v1.08.mq4

Other changes:
1. Shorten name to UStochastic (Universal Stochastic)
2. Less Warning alerts - some sensible adjustments internally.
3. Display more setting info
4. simplified code
5. Added four possible Alerts. Just a NOTE: you can use the alerters also with Bar display.
6. Added again D% Line to make it more universal (but it must be actively enabled)
7. Added option to disable DisableLowerStochPeriodAlert Warning: But still drop the display on purpose
8. Attached again an easy past copy template for MTF and Rope:
New_Example_MTF_and__Rope__mj.tpl


I don't know how resource intense my stoch version is compared to the plain one: if you have many charts with 30-50 stochs who knows.
(so I would enable the DLine only if I really want to use it.)
___________________
ALERT INFO:

What does it mean:

CrossesAbove: Stoch was before AT or BELOW set value and is now above it.
CrossesBelow: Stoch was before AT or ABOVE set value and is now below it.


NOTE: one can also use decimal points as Spud did: e.g. 23.6,76.4


Alerter does only consider the Main K% Line

e.g. scenario:

1.
One wants to be alerted whenever the Stoch crosses above or below the 50 level

note19="==ALERTS CROSSES ABOVE==";
Alert1_CrossesAbove=50;
Alert2_CrossesAbove=0;
note20="==ALERTS CROSSES BELOW==";
Alert1_CrossesBelow=50;
Alert2_CrossesBelow=0;

2.
One wants to be alerted whenever the Stoch crosses above overbought level 80, crosses below overbought level 80
crosses below oversold level 20, crosses above oversold level 20

NOTE: That case was why I decided on 4 possible alerts.

note19="==ALERTS CROSSES ABOVE==";
Alert1_CrossesAbove=80;
Alert2_CrossesAbove=20;
note20="==ALERTS CROSSES BELOW==";
Alert1_CrossesBelow=80;
Alert2_CrossesBelow=20;


NOTE: in the case above you can get a number of alerts if the stoch wiggle up and down the 80 (as you have set CrossesAbove=80 and CrossesBelow=80)

TIP: if you play around with same StochPeriod/Slowing but different things like interpolation you can add something to: UniquePrefix to distinquish them in the Alert popup message.

___________


Picture shows the K% AND new D% line extended til active chart bar.

Note: it's worthy to check 'pmullin86' thread:

http://www.forexfactory.com/showthread.php?t=283291

Hi Guys,

I've been reading through this thread and have also tested this system a few times. I would like to know if its ok to just have the 5M, 15M and 30M Stoch Charts and Make trades if my Goal is just 8-10 pips per trade.

From what I gather from this System and Spud's explanation, We look at all the TFs to get the Max out of each trade and to Milk out as many pips possible. but if a guy had a $50k account and is just looking to make 8-10 pips per trade, would it be ok to just look at the 5m, 15m and 30m Stochs

hi jacksonphili,

Spud tried to show some ways/ideas to extend profit and I guess he probably did it quite well.

I'm not so sure if Spud was really teaching milking the market to the maximum: he often refereed to 20 pips a day goal and his Pip bank (if I remember correctly: it's a long time I really read through the thread)



But as in many threads the emphasis is more on the good setups (I also think that is correct - no point to show and teach only by failed examples .

But this gives often a kind of slightly distorted view: I can not speak for Spud, but I know from others (some have posted here) that after some time they move on because the success-rate was not what they expected.

Many people trade systems only from one chart so in general I would say 3 charts can work out quite well. But I would guess it depends what one really does on/with this 3 charts (or 1 chart).


BTW: making 8-10 pips is also not easy: as the final success will depend on many other factors: like success rate, how big is the SL loss if it really hits (e.g One 50 pis SL eats away 5 10 pips successes - also we pay spread cost which is in relation to smaller pips a higher percentage, Money Management etc. etc)


To give a closer answer to your question: I would say demo trade for a couple of month with 3 charts after that you will be able to give yourself some answer which will be more worthy than if 10 people tell you it will work. (or it won't work.

I wish you all the best on your trading journey


PS.
You might be also interested to follow 'pmullin86' thread: http://www.forexfactory.com/showthread.php?t=283291

just a link in case someone is interested. http://www.forexfactory.com/showthread.php?t=287188

Small update:

In the meantime I was working on some new related stuff: http://www.forexfactory.com/showthread.php?t=285687

Note: some of my MT4 posted indies in this thread might not work correctly:

My new stuff is at: http://www.forexfactory.com/showthread.php?t=285687

see also: MJ-Testing customary indicators http://www.forexfactory.com/showthread.php?t=303610

On m15 chart, I have loaded the MTF STOCH and set it at H1.


Question, is there a way to color the OB/OS of the MTF STOCH, and an alert/alarm will set off it crossed back to 80/20 zone again?


Thanks! Chart will look something like this.

Hi

Strange to see your post in this very old discontinued thread. I have been working on this mtf stoch scalping. I just searching to find if there are any disadvantages in using the stoch mtf indicators. That is how I landed here. I wanted to open a new thread but for the minimum 5 vouvhes I could not start a thread. Perhaps I can revive and use this this abandoned thread to post my findings on this scalping method.

Are you a serious trader? are you trading live?

FxOptimu$

I have been trading live for a very small amount only.

Still looking for the CONSISTENT HOLY GRAIL =)


Stumbled upon this "old" thread the other night, and was trying to see if "this is it"!

Yes, this is it. Just hang on. I have assembled a scalping method taking inputs from different forums based on mtf stoch. These forums have been trading successfully on their methods. Lot of efforts and time has gone into this. I am testing this method in live account in small lot size of 0.01. I find it is working fine. I will post details little latter tonight.

FxOptimu$

Thanks Fx-optimus!

Looking forward to your post on MTF STOCH.

Here goes. Indies and tpls attached. Use two EURJPY charts. Use M5 and H1 tpls. Just observe the market by keeping the two charts side by side. I will explain the significance of indies tomorrow. I feel sleepy. You can understand most of the indies. Also keep watching the charts and find out the entry and exit opportunities in M5 chart shown by the mtf_stoch. I will be bussy watching the market and trading tomorrow morning when the Asia session starts. I will respond when I get time in between the trades. Enjoysssssssss. Good Luck.

FxOptimu$

Note : I am unable to upload the screenshot. Will try tomorrow.

Hey Fx,

Will be interesting to see where you are heading with this. We have a mutual interest in another system on this forum namely Kos's "Still basketing" I have been playing around with MTF stoch indi's to try and identify better entries trading the "core 5". Looking forward to your posts.

Regards

Welcome on board bro. With due respect to kos, the basket trading is very good. But there is no standard entry/exit rules to trade the basket. People are trying their own way and mostly all of them fail to make consistant profits. I was reading and testing a lot during the last few weeks to find out the best entry/exit for basket trading using the concept of cci+stoch_mtf combination given by kos. It turned out to be great and I am testing the method devised by me in the basket. I will formally post it there later. You are lucky enough to see this and have come here. Just download the indies and see the charts. With the templates on H1 & M5 charts placed side by side just keep on watching the EURJPY pair behaves and the cci+mtf stoch+macd indicators respond. You will get an idea where to enter and exit. I will give instructions to trade little later.

FxOptimu$

Thanks for the templates.

I just got a BUY alert signal on EURUSD, but not sure how to do it, just yet.

I hope I got the charts right =)