Stochastic Indicator

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True Stochastic Indicator - finds all hidden supportresistance levels

True Stochastic Indicator is another interpretation of the good old stochastic with more advanced functionality and a new look at its use in trading. You have no idea how many indicators and expert advisors have been created based on stochastic. And today, we see before us another version of this indicator in a very successful performance.

Characteristics of the True Stochastic Indicator
Platform: Metatrader4
Currency pairs: Any currency pairs, recommended major
Trading Time: Any trading sessions
Time Frame: Any, recommended H1 and H4

Trading rules
The MT4 True Stochastic Indicator can be used on the chart of any trading asset, but the priority, of course, is the major currency pairs, since they have the highest volatility. The time frame can also be any, but it is still better to give preference to higher time frames, such as H1 and H4.

The standard stochastic from the MT4 indicator set shows overbought / oversold levels, based on which we decide to open a sell or buy position for us. This is very important in reversal strategies. In the case of the True Stochastic Indicator, nothing new. But the author of the indicator suggests that we consider levels 1-10 and 90-100 for trading with an eye to the history, when the price approached these levels earlier.

Thus, we will open a Buy order when:

The oscillator will reach levels 1-10 and
A yellow circle will appear with a green dotted vertical line:
true-stoch-buy-signal