DS Stochastic Metatrader 4 Forex Indicator
The DS Stochastic Metatrader 4 Forex indicator is an overbought/oversold oscillator that works on Stochastic.
It’s a popular technical oscillator that works great in detecting overbought and oversold market conditions.
In range-bound markets, it can be used as a standalone signals indicator.
In trending markets, combine the DS Stochastic oscillator with a trend trading indicator and open trades in the direction of the overall trend.
Avoid counter-trend trades during trending markets.
Trend up? Trade the oversold DS Stochastic signals. Skip the overbought signals.
Trend down? Trade the overbought DS signals. Skip the oversold signals.
Just load the DS Stochastic Forex indicator onto the Metatrader 4 chart and start trading with it in minutes.
- Identifies overbought and oversold markets.
- Can be used as a standalone signals indicator in range-bound markets.
- Combine with a trend indicator in trending environments.
- Popular technical oscillator.
Feel free to explore the DS Stochastic Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (EUR/USD H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The DS Stochastic Oscillator Forex MT4 Indicator
Buy Signal: Execute a buy trade when the blue DS Stochastic Oscillator line crosses the red line upward.
Set your stop loss below immediate support or nearest consolidation, or use your own favorite stop loss method.
Close the buy trade when the red DS Stochastic line crosses the blue line upward (valid sell signal), or use your own favorite take profit method.
Alternatively, close the buy trade for a reward/risk ratio of 1.5 or better.
Sell Signal: Execute a sell trade when the red DS Stochastic Oscillator line crosses the blue line upward.
Set your stop loss above immediate resistance or nearest consolidation, or use your own favorite stop loss method.
Close the sell trade when the blue DS Stochastic line crosses the red line upward (valid buy signal), or use your own favorite take profit method.
Alternatively, close the sell trade for a reward/risk ratio of 1.5 or better.
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Q period, r period, EMA fast, count bars, colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: stochastic
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.