Market Change Cycles trading indicator for MT4 and MT5
Market Change Cycles trading indicator - is an extended version of Stochastic oscillatorwhich calculates the Close position not only in relation to MaxHigh and MinLow, but also displays the difference between them from the opening price, which allows you to take into account the market volatility.
How are Market Change Cycles and Stochastic Oscillator similar?
- the closer the value of the histogram to the upper line - the closer the value of the Stochastic Oscillator will be to 100;
- the closer the value of the histogram to the bottom line - the closer the value of the Stochastic Oscillator will be to 0.
As an example, as one of the options, this indicator can be used as a filter for the signals of the standard indicator Stochastic Oscillator as follows:
- If the value of MCC (in mode D) several candles in a row are in the upper zone and at least one candle value exceeded the upper level of 300 - then you should consider selling signals from the indicator Stochastic Oscillator or sell;
- If the value of MCC (in mode D) several candles in a row are in the lower zone and at least one candle value was below the bottom level -300 - then we should consider buying signals from the indicator Stochastic Oscillator or buy.
In this version of the indicator, all values are calculated without deceleration by Low/High price.
Market Change Cycles trading indicator is presented in two variants - MT4 and MT5 trading terminals.
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