What is Stochastic?
Stochastic is a useful indicator that is able to scan OverSold and OverBought price on the market or we can call it trend reversals Indicator.
Stochastic oscillators tend to vary around some mean price level since they rely on an asset’s price history. The stochastic oscillator measures the momentum of price movements. Momentum is the rate of acceleration in price movement. The idea behind the stochastic indicator is that the momentum of an instrument’s price will often change before the price movement of the instrument actually changes direction. As a result, the indicator can be used to predict trend reversals.
We built a “StocScanner” custom indicator that will scan stochastic on the various symbols and various timeframe at the same time. Only need to attach it on a single char and the trader will see its signals from other symbols and timeframes. It shows arrows on the chart and clickable. Click the arrow and the appropriate chart will be opened following its symbol and timeframe on the list.
In case, a trader wants to save time, it will be helpful. No need to ‘waste’ time opening the chart one by one and load it to get information from this indicator. So traders can do something else to analyze the market to get the best entry momentum.
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Last Update : May 24, 2021 11:22 AM
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