The 4 time frame Stochastic Forex signals indicator for Metatrader 4 is my favorite momentum indicator that is used to spot high probability trend reversals on four time frame concurrently.
It’s works pretty well in spotting the best trend reversals for every day trading. You can make good pips with it!
You pick a time frame, and the 4 Time Frame Stochastic MT4 indicator will proceed to plot buy/sell signals for the current time frame and the next three upper time frames.
By default, the signals of the 4 Time Frame Stochastic indicator get displayed as four rows of horizontal signal boxes within a separate window.
Here’s how you can buy and sell from the 4 Time Frame Stochastic Forex signals indicator:
- The trend reverses to buy mode when all 4 time frame are colored lime-green.
- The trend reverses to sell mode when all 4 time frame are colored pale-violet.
Feel free to experiment with the different parameters and indicator values to suit your preferences.
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4 Time Frame Stochastic Forex Signals Indicator Chart
Below is an example of how the indicator should appear when added onto the Metatrader 4 chart.
Traders are free to adapt this indicator on a cross section of currency pairs and timeframes of their preference.
Finding Buy and Sell Triggers With 4 Time Frame Stochastic Forex Signals Indicator
Below is an example of how to buy and sell forex pairs with this technical indicator:
Buy Trigger: Open buy trade order when the all indicator colors turn back to lime-green. The trend is now upward.
Place stop loss below most recent support level, or use your own stop loss placement method.
Close the buy trade when an opposite sell signal appears on the chart.
Alternatively, close the buy trade for a fixed take profit target of 30 pips for instance on the 15-minute time frame.
Sell Trigger: Open buy trade order when the all indicator colors turn back to pale-violet. The trend is now downward.
Place stop loss above most recent resistance level, or use your own stop loss placement method.
Close the sell trade when an opposite buy signal appears on the chart.
Alternatively, close the sell trade for a fixed take profit target of 70 pips for instance on the 1-hour time frame.
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Time Frame 1, Time Frame 2, Time Frame 3, Time Frame 4, Stochastic K, Stochastic D, Stochastic Slowing, Stochastic Price, alerts On, alerts Level, alerts Message, alerts Sound, alerts Email.
The indicator can be used as a stand-alone signals indicator.
It can be combined with:
Trading oscillators (MACD, DeMarker, RVI…)
Trend indicators (Bollinger Bands, EMA, Parabolic SAR,…)
Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend
Copy and paste the indicator in the MT4 indicators data folder (click on ‘File > Open Data Folder’).
Right click within the MT4 terminal Navigator window to refresh or restart the terminal and add the indicator to any chart.