StepMA Stoch Indicator

StepMA Stoch Indicator

StepMA Stoch Indicator For MT4 provides forex bullish and bearish trading signals using ATR and MA, shows the price volatility and trend direction

The StepMA Stoch indicator for MT4 uses Moving Average and Average True Range to identify the market volatility and trend direction. Moreover, it provides potential stop loss points based on the ATR values. Forex traders can use this as a standalone indicator that shows volatility, trend direction, entry and exit trading signals.

The indicator is easy to use and helpful for new and advanced forex traders. Additionally, this indicator does not repaint after candle close. It works on all intraday chart time frames and higher. However, the indicator provides limited trading signals and is best suitable for intraday trading.

StepMA Stoch Indicator For MT4 Trading Signals

The indicator plots blue ATR line and yellow Moving average line in indicator sub window on the price chart. The trading strategy is based on the crossover of the two lines to identify entry points and trend direction.

If the yellow line crosses the blue line upwards it indicates the beginning of a potential bullish market trend. So, traders can enter the market with a buy trade and place a stop loss below the blue ATR line. Similarly, upon a downward crossover forex traders should consider entering a sell position with a stop above the ATR line. The indicator does not provide a profit target, so traders should exit the trade at an opposite trading signal.

Traders should note that the distance between the two lines indicate the market volatility. A higher difference shows increased volatility while the lesser distance implies reduced volatility. So, traders using volatility based trading strategies may benefit from this indicator.

Conclusion
In summary, the StepMA Stoch indicator for MT4 is a volatility based forex indicator that provides trading signals based on ATR and MA crossover.