The MA On Stochastic Forex Signal indicator for Metatrader 5 is a great overbought/oversold technical oscillator built on Stochastic and a moving average.
The indicator identifies overbought and oversold price levels and displays them in a bottom chart.
- The trend is considered overbought when the indicator goes above the 80 value.
- The trend is considered oversold when the indicator goes below the 20 value.
It’s recommended to combine the MA On Stochastic indicator with a trend indicator and only open trades in the direction of the overall trend.
The following indicator inputs can be adjusted: stochastic K period, stochastic D period, final smoothing, type of smoothing, MA averaging period, shift, smoothing type, trend N bars.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the MA On Stochastic Forex Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The MA On Stochastic Forex Signal Indicator?
Find a simple trading example below:
- In an uptrend, look to buy when the indicator crosses back above 20 from below (buy on dips).
- Open a buy trade and set a stop loss below support.
- Close the buy trade for a fixed take profit target or just below key resistance levels.
- In a downtrend, look to sell when the indicator crosses back below 80 from above (sell on rallies).
- Open a sell trade and set a stop loss above resistance.
- Close the sell trade for a fixed take profit target or just above key support levels.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the MA On Stochastic Color N Bars.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration