Originally Posted by mladen

Stochastic drawing the "overbought" and "oversold" region Tradestation style

Originally Posted by mladen

regards
mladen

Originally Posted by FXSamurai

Below you'll find a chart example of the stochastic settings I use. The first chart is the way I use the settings, the second is the same, but with every stochastic split from the rest.

The basic setting is 8-3-3 (i.e. slow stochastic). As mystified points out, settings like 5-3-3 or 14-3-3 (or 13-3-3) have all their own qualities and possibilities. Personally, I'm most comfortable with 8-3-3 and have developped a whole range of strategies with and around it.

I combine the 8-3-3 stochastic with 3 multiples of it, similarly to using a MTF (Multiple Time Frame) version (if you multiply the basic setting by 2, then for a 30m chart, you get more or less exactly the levels of a 1 hour chart).

These various stochastics I then stack all together in one window, and combine them with other indicators, like CCI, MACD, RSI, DeMarker, etc... There's a whole lot of great signals that you can take from these, and I worked out numerous strategies which I'm trading or forward testing at the moment (too many, and too versatile to mention here - I'll just point out that it's not a matter of simply acting on one standard type of oversold-/bought situation, there's many variations of it, depending on the levels of the various different stochastics and other indicators).

One of the things I found is that the best levels to go by should be fibonacci levels. Interestingly, I recently saw another poster on this forum use these on his charts, the only difference being that I also use the 16.18/83.82 level, for maximum oversold/-bought levels.

Explore and enjoy!

Originally Posted by rayz

Hi guys..

i newbie in forex trading, i need your help to build a simple EA for me.

Can someone help me? i really appreciate if someone can help me.

my setting simple EA:-

TF M5
Stochastic (5.3.3)
TP 10PIPS
LOTS 0.1


enter position buy when line stoch cross at level 80
enter positon sell when line stoch cross at level 20


*sorry for my english

thanks.

Originally Posted by fxbs

OnChart_Stochastic_Channel_(FL_MTF)
from Mladen: Fibo Levels; MultiTimeFrame