Tuesday, March 8, 2011

Doda-Stochastic Indicator for MetaTrader

Stochastic is one of the famous indicator used by many investors and traders. Many software, including MetaTrader, provide this indicator in-built. But this indicator gives many buy and sell signals on a shorter time frame.


Below is the variant of this indicator - Doda Stochastic.


doda-stochastic indicator for metatrader
doda-stochastic indicator for metatrader


It displays itself in the lower window of a chart.  The indicator is easy to use and the rules are same as you use normal Stochastic indicator.It also gives you screen alert on buy & sell signals.

Some main points regarding the Doda Stochastic indicator:



  • I'm not the original developer of this indicator. I just made some changes in it. So, the credit and copyright, if any, goes to original coder.

  • Use this indicator on higher time frame like H1 or H4 but not less than that.

  • Use this indicator on the demo account first and later on the real account.

  • Use other indicators like Doda-Donchian & Doda-Bollinger also along with Doda-Stochastic indicator to get a complete picture of trading call.

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