Stochastic Only Arrow Indicator

Stochastic Only indicator - is an arrow indicator built on overbought and oversold levels Stochastic indicator.

The indicator uses three Stochastic indicators with different settings:

• slow (default period 700, levels 10 and 90);
• average (default period 120, levels 10 and 90);
• fast (default period is 30, levels 5 and 95).

When all three indicators are in the overbought/oversold zone, the Stochastic Only indicator gives a signal to enter the market in the form of an arrow of the corresponding color and direction.

According to the experts of fortrader.org, it is possible to increase the number of signals by changing the settings of overbought/oversold levels, but the quality of these signals may deteriorate.

You can additionally optimize Stochastic Only signal indicator, by adding an alert system to it, referring to the topic "Revision of bots (advisors, indicators)".

Download Stochastic Only indicator

Other modifications of the Stochastic indicator