3TF Stochastics Indicator

3TF Stochastics Indicator

The 3TF Stochastics indicator for MT5 provides bullish and bearish signals for Forex trading by filtering 3 different time frames.

The 3TF Stochastics indicator for MT5 combines the stochastic indicator of three different periods to determine the direction of the forex trend. Forex traders can use these trading signals to identify bullish and bearish trends. Additionally, traders can use it as a separate indicator for entry, stop loss and take profit.

The indicator is easy to understand and suitable for both new and experienced Forex traders.

Moreover, the indicator works well on all Forex chart time frames and is useful for all types of Forex traders. While it works well for scalpers and day traders, it works best on higher time frames.

3TF Stochastics Indicator For MT5 Trading Signals

The indicator displays orange bearish histogram bars and turquoise bullish bars. As an oscillator, bullish and bearish bars are on either side of the zero line. In addition, the indicator displays values from +50 to -50 and draws a line at the levels of +30 and -30.

The trading strategy is to enter the market in the direction of the histogram columns. If the histogram bars are bullish, traders should enter the market with a buy trade and place a stop order below the previous swing low. On the other hand, traders should aim for an exit if the histogram bars exceed 30 levels. Traders can use a similar strategy in bearish conditions.

The next trading strategy is to look for overbought and oversold market conditions. A histogram reading above 30 or -30 indicates extreme market conditions, so traders should look for reversal trading signals.

Conclusion
Stochastic 3TF for MT5 only provides forex trading signals if the three indicator timeframes are the same.