The Kase DevStops Metatrader 5 Forex indicator was created by Cynthia Kase and it was introduced in her book “Trading With the Odds”.
The current version calculates the DevStops precisely as illustrated in the book.
The entire scheme boils down to the process of taking into consideration the variance and twist it in to the mechanism of setting up a system for stops.
Three steps can be considered in order to better define and to reduce the threshold of uncertainty in placing stops:
Taking into account the variance or the standard deviation of range.
Taking into account the skew, or simply, the amount at which range can surge in the reverse direction of the trend.
Reformation of our data to be more consistent, while minimizing the degree of uncertainty to the bare less minimum.
Free Download
Download the “Kase dev-stops.ex5” MT5 indicator
Example Chart
The GBP/USD H1 chart below displays the Kase dev-stops Metatrader 5 forex indicator in action
Basic Trading Signals
Buy Signal: Go long when the main dev-stop sky blue line (un-dotted filled line) gets aligned somewhat below the candlesticks.
Sell Signal: Go short when the main dev-stop sandy brown line (un-dotted filled line) gets aligned somewhat above the candlesticks.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the main dev-stop line turns sandy brown.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the main dev-stop line turns sky blue.
Tips: The Kase dev-stops Metatrader 5 Forex indicator is made up of four lines; three dotted lines and the un-dotted line (which is tagged the Main dev-stop).
Download
Download the “Kase dev-stops.ex5” Metatrader 5 indicator
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (Dev-stop period, Dev-stop slow period, Dev-stop fast period, Deviation 1, Deviation 2, Deviation 3, Deviation 4, Price), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: stops
Installation
Copy and paste the Kase dev-stops.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)