Excellent Setup using ITGuy's information and Stochastics.

1. long term trend down
2. below 25ma (purple line)
3. 1h and 30 m stoch low and head lower
4. 15m (yellow) trigger stoch breaking lower
5. time is right @ NY open = volume

Attached Images

1tl.gif (29.8 KB, 816 views)

Exactly- And there are 2 entry points here if you missed the alert and stoch at around 05:00 on summits chart you could have caught the second one at approx 11:30 (that's where I shorted, I was asleep for the first one). The 25 sma rule #2 has really kept me out of a lot of losing trades even though technically you could have made a few pips on the brief up spike. This combo is great, there are a lot of ways to trade the signals AND it works on any pair.

Sure for those that didn't ask for the zip file here are all the indies I use.

Attached Files

	#MTF FibStoch.mq4 (3.5 KB, 195 views)
	#SpudFibo.mq4 (9.4 KB, 139 views)
	_Signal_Bars_v6.ex4 (54.0 KB, 141 views)
	FiboPiv_v3.ex4 (6.4 KB, 121 views)
	STOCH_Bars_v2c.ex4 (31.8 KB, 165 views)

MTF Stochastics really adds a new dimension...

On the chart below...it's very clear when the alert candle appears around 10:30ish it's easy to see the 30/60 m stoch moving up and the 15m (yellow) turns north with the RC's turning back up after small retracement.

Simple Rule- only trade in the direction of the higher TF Stoch's with the 15m (yellow) as a trigger!! You can see 5-6 trades here

Attached Images

1tl.gif (33.6 KB, 812 views)

Many ways to trade it

Also pay attention to when the 15m stoch returns from overbought or oversold it more often than not gives you a good indication of exits.

Thanks, guys, for all the good info!

Yes I second that, Thank you....

__________________
"Dictionary is the only place that success comes before work. Hard work is the price we must pay for success. I think you can accomplish anything if you're willing to pay the price." Vince Lombardi

This indicator is the newest MTF stoch. Credits go to IYA over at FF. I modded the second one to set the color based on the timeframe you enter and to default to 14,3,3 because I got tired of changing them.

The first v2.0 attached is the original unmodified.

This indicator doesn't draw the stochastic until the timeframe it represents has closed a bar. It does show you approx where the value is during the bar. There is also a nifty little clock that shows when the bar is going to close.

Attached Files

	#MTF Stochastic v2.0.mq4 (6.4 KB, 156 views)
	#MTF Stochastic v2.0hio.mq4 (7.4 KB, 166 views)

itguy, thank you for the indicators.

I couldnt arrange 3 Stoch indicators as on the Summitfx chart.
If you have a template, .tpl file for that, could you please post it.

euro

Once you have put one stoch on your chart you need to drag the next three from the navigator directly onto the sub window.

I have attached the latest zip with the latest indicators and template. I didn't realize I could attach zip files at tsd...oops....

Attached Files

Hole-in-one.zip (665.1 KB, 295 views)