Stochastic on Chart Indicator for MetaTrader 4 Download

The Stochastic on Chart Indicator is an advanced and upgraded version of the Stochastic Oscillator designed for installation on MetaTrader 4.

Forex traders can use this indicator in their technical analysis to gain deeper insights into market trends.

This indicator displays the Stochastic Oscillator directly on the price chart, allowing traders to identify overbought and oversold zones.

It helps traders spot suitable buy and sell opportunities when the price enters or exits these zones.

Stochastic on Chart Indicator Table

Below, the information related to the Stochastic on Chart Indicator is provided.

Stochastic Indicator on Chart at a Glance

The Stochastic on Chart Indicator is a professional tool for technical traders who rely on overbought and oversold oscillators.

It plots the Stochastic Oscillator directly on the price chart, making it easier to monitor line movements. Traders can use it to identify buy or sell opportunities and enter trades accordingly.

Uptrend in the Stochastic Indicator on Chart

On the 30-minute USD/CAD chart, the Stochastic on Chart Indicator is applied. Traders can use their trading strategies along with this indicator to detect suitable opportunities.

In this chart, the %K and %D oscillator lines enter the oversold zone. Once they exit and a crossover occurs between %K and %D, this can be interpreted as a bullish signal, prompting traders to open buy positions.

Downtrend in the Stochastic Indicator on Chart

On the 1-hour NASDAQ chart, the Stochastic Oscillator line and the signal line enter the overbought zone.

By applying the Stochastic on Chart Indicator, traders can interpret the crossover of these lines after exiting this zone as the start of a bearish trend, and enter sell positions accordingly.

Stochastic on Chart Indicator Settings

Below, the settings of the Stochastic on Chart Indicator are provided:

• K Period: Defines the period for calculating %K;
• D Period: Defines the period for calculating %D;
• Slowing: Defines the slowing period for the Stochastic Oscillator;
• MA Method: Sets the moving average method used in the Stochastic calculation;
• Stochastic Price: Sets the basis for Stochastic calculation;
• Level 1: Defines overbought/oversold level 1 (if set to -1, it will not be displayed);
• Level 2: Defines overbought/oversold level 2 (if set to -1, it will not be displayed);
• Level 3: Defines overbought/oversold level 3 (if set to -1, it will not be displayed);
• Level 4: Defines overbought/oversold level 4 (if set to -1, it will not be displayed).

Conclusion

The Stochastic on Chart Indicator is a practical tool for Forex and cryptocurrency traders who use oscillators to identify bullish and bearish market trends.

By displaying the Stochastic Oscillator directly on the chart, it simplifies analysis and helps traders examine overbought and oversold zones.

Furthermore, crossovers of the Stochastic and signal lines can be interpreted as buy or sell signals.