Stocycle Indicator

Stocycle Indicator

Stocycle Indicator for MT4 scans for the peaks and valleys of the stochastic indicator and plots the best ones as forex reversal trading signals.

The Stocyle indicator for MT4 calculates the high and low of the classic stochastic indicator. It compares the previous high or low with the current values and marks them. As a result, these troughs and valleys act as potential price reversal points. Furthermore, they act as entry and exit forex trading signals.

The indicator is similar to the stochastic indicator and is easy to identify and understand for new and advanced forex traders. It works on all chart time frames and is helpful for all short and long-terms trading strategies. Moreover, technical forex traders can combine this indicator with other indicators and trade in confluence for scalping strategies.

Stocycle Indicator For MT4 Trading Signals

The indicator plots a teal oscillator line in a separate indicator window. The peaks are in majenta dots and the bottoms are in blue. For instance, if the oscillator values reach the top or bottom, it indicates a potential reversal of price.

So, the best trading strategy is to enter the markets on the appearance of the dots on the stocycle indicator. In lower time frames for a scalping strategy, traders should use any trend indicator as a filter to avoid potential false reversal trading signals.

Once the oscillator reaches the bottom and signals a reversal with a blue dot, traders can enter a buy trade. Traders should protect this position with a stop loss below the previous swing low and look to exit at an opposite signal. Similarly, if a bearish reversal signal appears in the form of a majenta dot, traders should enter sell positions.

Conclusion
In summary, the Stocycle indicator for MT4 provides potential forex trading reversal signals that is useful to trade using all types of chart time frames.