Stochastic Cross Alert Indicator
ThisStochastic Cross Alert MT5 Indicatorgives automatic alerts using signals from the classic Stochastic indicator. It draws buy and sell arrows directly on the price chart.
The Stochastic Cross Alert indicator is a very simple tool that allows you to trade the Forex market using the signals provided by the classic stochastic oscillator.
When you add the Stochastic Cross Alert indicator to your chart in the Metatrader 5 platform, you will see arrows on the price chart.
Arrows correspond to bullish and bearish signals given by stochastic crossovers.
Stochastic Cross Alert Sell Signals
Thanks to simple arrow signals, the indicator is very easy to use for Forex trading. Green arrows indicate a bullish trend, while purple arrows indicate a bearish trend.
Wait for a green arrow and a bullish price confirmation to open a buy trade. Set a stop loss below the previous low, and take profit when the opposite signal appears or when the desired profit is reached.
Conversely, wait for a purple arrow and a bearish price confirmation to open a sell trade. Set a stop loss above the previous high, and take profit when the opposite signal appears or when the desired profit is reached.
In the indicator settings, you can also adjust the periods of the intersecting lines to change the frequency of the signals, change the overbought and oversold levels. And also turn on or turn off the sound notifications and e-mail
Conclusion
The Stochastic Cross Alert MT5 Indicator helps you not to miss the buy and sell signals that the classic Stochastic indicator provides.
Stochastic is a highly sensitive technical indicator. Very often gives signals. Trading these signals can be frustrating as most of the signals will be false and the commission paid to the forex broker will skyrocket. So you can use it in combination with other methods of making trading decisions in the forex market.
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