MT4’s Higher High-Lower Stochastic indicator can detect new trends. It can also detect price correction areas and predict price reversals.
Forex traders can analyze the indicator’s crossovers and divergences from price to determine the best entry and exit points. Forex traders can use the indicator as an oscillator to detect overbought or oversold conditions and then trade accordingly. Forex traders can use the indicator in a variety of ways while trading multiple technical trading strategies.
The indicator can be used on all time frames, daily, weekly and monthly price charts, as well as intraday. Forex traders can also download the indicator for free and install it easily.
MT4 Trading Signals High-Low Stochastic Indicator
Forex traders can open buy trades when the BULLISH stochastic line moves above the upper level. The opposite signal is the best for taking profit and the stop loss should be below the swing low. Forex traders can also enter a sell trade when the BEARISH stochastic moves above the upper level of the indicator.
Trend Color Setup – MT4 Trading Signals for High-Low Stochastic
This setting uses the following input indicators and changes the color stochastic line according to the trend change.
A change in trend causes a color change.
Forex traders can buy if the stochastic line crosses and is highlighted in bullish color. The indicator is highlighted as a bearish line in a sell position after the crossover.
Stochastic indicator for MT4 trading signals. High-Low Loose Stochastic Indicator – Mid Crossover Setup
This is the input setting used for setup.
Color change = change color on a mid level crossover.
The best entry point for buying is when the bullish indicator line crosses the intermediate horizontal line. Forex traders can also take a sell position when the bearish indicator line crosses the mid-levels.
Summary
MT4’s Higher High-Lower Stochastic indicator is versatile and is combined with the classic stochastic indicator. Forex traders can use this indicator to determine the beginning and end of a BULLISH or BEARISH trend.
