Hello dear traders! The main advantage of the indicators of entry and exit points is their simplicity, which naturally simplifies the trader’s work, and accordingly makes them quite popular. Today I will present you one of such indicators – Stochastic Cross Alert, based on, as you understood from the name, the indicator algorithm Stochastic…
In fact, this is a notification indicator, Cross Alert in its name means “notification of crossing”. That is, it notifies about the appearance of signals of the Stochastic indicator, namely:
– crossing the solid line% K zones overbought and oversold;
– crossing of the dotted line% D overbought and oversold zones;
– intersection of the% K and% D line with each other.
Unlike Stochastic, which plots charts in a separate window on the chart, Stochastic Cross Alert notifies of a signal with arrows directly above the bars: green arrow is a bullish signal, red is a bearish one, this is the main difference from Stochastic. Everything is simple, no bells and whistles.
A link to download the indicator is given at the end of the article.
Let’s analyze the indicator parameters:
SoundON – on off. sound notification when a signal of the Stochastic indicator appears;
EmailON – on off. sending alert messages to e-mail. The message is sent to the email specified in settings mt4.
In the next group of settings, parameters are set for calculating Stochastic values.
KPeriod – value of the period for calculating the% K line;
DPeriod – value of the period for calculating the% D line;
Slowing – value of the deceleration period (smoothing the moving average of the% K value);
MA_Method – method of smoothing the moving average, the value is set by a number:
0 – Simple (simple);
1 – Exponential (exponential);
2 – Smoothed (smoothed);
3 – Linear Weighted (linearly weighted).
PriceField – apply the calculation to the closing price or the minimum / maximum, the parameter is also set by a number:
0 – Low / High;
1 – Close / Close;
OverBoughtLevel – the value of the overbought level;
OverSoldLevel – the value of the oversold level.
In the last group, you actually set up (enable) notifications about signals.
Shod_KD_cross – on off. notifications when a signal appears: crossing the% K and% D lines between themselves;
Shod_K_OBOScross – on off. alerts when a signal appears: crossing of the% K line of overbought and oversold zones;
Shod_D_OBOScross – on off. alerts when a signal appears: crossing of the% D line of overbought and oversold zones;
Now let’s see how the indicator notifies about signals directly on the terminal chart, and for clarity let’s compare them with the Stochastic with the same parameters. In order not to clutter up the chart, I will consider each signal in a separate screenshot:
Remember that the signal should be taken into account only after the candle on which it appeared has closed.
So, to summarize:
There are no discrepancies between the Stochastic Cross Alert indicator signals and the Stochastic, the calculation algorithm for both is absolutely the same. In fact, as I wrote above, Stochastic Cross Alert is a Stochastic, the difference between them is only in the presentation of information. You need to follow the standard Stochastic, identify signals, while in Stochastic Cross Alert you just need to wait for a notification about their appearance, which certainly makes it easy to use.
That’s all. Happy using the indicator! Goodbye.
Download indicator of entry and exit points for mt4 terminal – Stochastic Cross Alert
Best regards, Evgeny Bokhach
Trade Day indicator