Kay Dual Time Frame Stochastic Indicator

Kay Dual Time Frame Stochastic Indicator

Kay Dual Time Frame Stochastic Indicator for MT4 best multi-stochastic indicator providing forex trading bullish and bearish signals

The Kay dual time frame stochastic indicator for MT4 plots the stochastic values of the current chart time frame and the next higher one. As a result, this indicator provides forex traders stochastic based multi time frame trading strategies. Furthermore, this indicator plots a histogram showing the bullish and bearish market bias which provides trading signals. Though the application of stochastic is widely used the idea of visualizing two stochastic in a single window makes trading easier.

The indicator is easy to understand for new and advanced forex traders. Furthermore, it works on all chart time frames and is suitable for scalpers, intraday traders, and short and long- term traders. Additionally, traders can use this multi time frame indicator to formulate auto trading strategies.

Kay Dual Time Frame Stochastic Indicator for MT4 Trading Signals

The indicator plots a fast stochastic in red and slow one in blue. Additionally, it plots bullish histogram bars in green and bearish in red. The trading strategy is to enter the market based on the color change of histogram bars.

If the histogram bars color turn green it indicates a bullish market condition. So, forex traders should enter the markets with a buy trade. A stop loss below the previous swing low will protect the position. Additionally, traders should book profits at an opposite trading signal or with a good risk-reward ratio.

Similarly, traders can open sell positions with a stop above the previous swing high. A red histogram provides this opportunity as it indicates a bearish trading signal.

Conclusion
In summary, the kay dual time frame stochastic indicator for MT4 is an essential multi time frame forex trading tool.