How to set Stochastic indicator in mt4 chart - Forex Function
How to set Stochastic indicator in mt4 chart
Last Update: 28 January,2015
Stochastic Oscillator is a common indicator which indicates overbought and oversold area of the forex market movement. In this indicator 80 and 20 level are used for identifying overbought and oversold area. 80 level indicates overbought area and 20 level indicates oversold area. So this is a helpful trading indicator.
In this tutorial, you will learn:
(1)how to set stochastic indicator on your chart,
(2)how to customize its parameters,
(3)how to remove this indicator from mt4 chart.
How to set Stochastic indicator First open your chart. Click on ”Insert”. Then click on ”Indicators” and ”Oscillators”. Then click on ”Stochastic Oscillator” indicator.
How to customize its parameter You will get new window to customize the parameters of stochastic indicator. In ”Parameters” tab, you will get ”%K period”, “%D period”, ”Slowing” parameters. You can change these parameters. There is ”MA method” parameter. You can select any method. Simple and exponential MA method is normally used.
In ”Colors” tab, you can change color of the indicator. You can also change width of stochastic indicator.
In ”Levels” tab, you can add levels on this indicator. Click on ”Add” and you can put value on level. You have to add 20 and 80 level. You can change the color of the level lines.
How to remove Stochastic from chart You can remove this stochastic indicator from your chart. Move your mouse on the indicator and press on right-button. New window will be opened. Then click ”Delete Indicator Window”. Thus stochastic indicator will be removed from your chart.
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