The Two Stochastic Alert Forex indicator for Metatrader 5 consists of a fast and slow Stochastic indicator and it provides buy & sell entries and exits.
The indicator oscillates between the 0.00 and 100.00 extreme levels.
- The trend is considered bullish when the indicator oscillates back above 75.
- The trend is considered bearish when the indicator oscillates back below 25.
As opposed to the classic Stochastic oscillator, the two Stochastic Alert oscillator can be used as a standalone trading tool.
The following indicator inputs can be adjusted: stochastic fast period, stochastic slow period, final smoothing, type of smoothing, stochastic levels, push alert, sound alert, send email.
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 Two Stochastic Alert indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Two Stochastic Alert Forex Indicator?
Find a simple trading example below:
- A bullish signal occurs when the two Stochastic oscillator goes back above the 75 value.
- Execute a buy trade and set stop loss 3 pips below short-term support.
- Close the buy trade for a fixed take profit target or just below key resistance.
- A bearish signal occurs when the two Stochastic oscillator goes back below the 25 value.
- Execute a sell trade and set stop loss 3 pips above short-term resistance.
- Close the sell trade for a fixed take profit target or just above key support.
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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 Two Stochastic Custom Filling Alert.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