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.
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.