Stochastic experiment
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Stochastic experiment
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
It seems that for a long time stochastic has been neglected.
We have seen new kinds of rsi, new kinds of averages, new kinds of ADX, new kinds of SAR, new kinds of almost everything ... except stochastic. Not just to filter inputs or to use something else instead of prices for calculations, but the "pure stochastic" that would be different (new). Well this one changes that a bit ...
This stochastic allows you to have 4 different types of stochastic. And they are really different types, since the "core" of the stochastic is changed and it makes new kinds of stochastic — and prices are not changed at all. By default, if you are using simple moving average for stochastic calculations, then the stochastic is exactly the same as the built in stochastic. But the rest of the averages (EMA — exponential moving average, SMMA — smoothed moving average and LWMA — linear weighted moving average) are producing stochastic that are new kinds of stochastic.
Signal has the usual average types available too.
Coloring and alerts are based on the stochastic to signal crosses (the "classical" way of using stochastic), but even with these settings, there is a lot of room for experimenting.
