The Stochastic Cross Alert Indicator is one of the trading tools MetaTrader 5. It is an enhanced version of the classic Stochastic Oscillator.
This indicator generates trading signals in specific situations: first, when a crossover of the two Stochastic lines occurs, and second, when the Stochastic lines exit the overbought or oversold zones.
Stochastic Cross Alert Indicator Table
Below is the Stochastic Crossover Alert Indicator Table:
| Category | Oscillator - Signal and Forecasting - Trading Tool |
| Platform | MetaTrader 5 |
| Skill Level | Beginner |
| Indicator Type | Reversal - Lagging - Entry |
| Timeframe | Multi-Timeframe |
| Trading Style | Scalping - Day Trading - Intraday Trading |
| Trading Markets | Forex - Stocks - Indices |
Bullish Trend Signal in the Indicator
In the 1-hour gold chart, the Stochastic Cross Alert Indicator is placed, displaying buy signals. The price is in an upward trend, and traders can use this indicator to identify trading opportunities.
Bearish Trend Signal in the Indicator
In the 30-minute USD/CAD chart, the price is in a downward trend, and the Stochastic Cross Alert Indicator is placed on the chart. Traders can use the buy and sell signals from the indicator to enter or exit trades.
Stochastic Cross Alert Indicator Settings
The image below shows the settings for the Stochastic Cross Alert Indicator:
- Stochastic K%: Select the period for the Stochastic K line.
- Stochastic D%: Select the period for the Stochastic D line.
- Stochastic Slowing: Select the period for the Stochastic slowing line.
- Stochastic MA Method: Select the moving average method for the Stochastic.
- Stochastic Price: Select the price calculation type for the Stochastic.
- Stochastic Overbought: Set the overbought level for the Stochastic.
- Stochastic Oversold: Set the oversold level for the Stochastic.
- Alert Type: Set the alert type based on three conditions: crossover of Stochastic lines, entering overbought/oversold zones, or exiting overbought/oversold zones.
- Calculation: Choose calculation based on candle opening or closing.
- Alert ON: Enable or disable alerts.
- Alert Message ON: Enable or disable alert messages.
- Alert Email ON: Enable or disable email alerts.
- Draw Arrows: Enable or disable displaying signals on the chart.
- Up Arrow Code: Set the buy signal code based on MQL.
- Down Arrow Code: Set the sell signal code based on MQL.
- Arrow Size: Set the size of the signal arrows.
- Lookback: Set the number of candles for calculation and display on the chart.
Conclusion
The Stochastic Cross Alert Indicator is an oscillator MetaTrader 5. Traders can use this indicator to stay informed about trading opportunities and utilize buy and sell signals.
By sending alerts, this indicator keeps traders updated on the Stochastic status, allowing them to perform more specialized analysis on the chart using their personal strategy.
Who is this indicator suitable for?
It is suitable for traders who plan their trades based on crossovers of Stochastic lines or the entry and exit of these lines from overbought and oversold zones.
How does this indicator assist in trading decisions?
By issuing alerts during crossovers of Stochastic lines, this indicator helps traders quickly identify entry and exit signals, enabling them to make better decisions.