Swami Stochastic Indicator

Swami Stochastic Indicator

Swami Stochastic Indicator is a  forex custom indicator that actually a modification of stochastic indicator that have similarly function is to determine overbought and oversold area. But Swami Indicator has colored histogram at the background where its color can changes according to market condition besides a rising and falling line as main signal.

This indicator is developed aim to make easily market condition to read that can assist especially beginner trader in their daily job to grabbing easy money consistenly.

Swami Stochastic Indicator is a forex tool that work best for scalping trading purpose since mostly produces short-term trading signals therefore, very suits to trade it using shorter timeframe charts like M1 to M15 at the MT4 trading platform and this indicator matches to applied at any forex currency pair around the market.

Swami Stochastic Indicator is located below the main chart with separately window, thin Horizontal lines at top and bottom of its indicator window are oversold and overbought levels, the top line value is 80 and the bottom line 20.

Swami Stochastic Oversold-Overbought Area

It has simple rule, several condition describe actually market condition when Its oscilator value drops below 20 means the market is in the oversold condition and most probably of the market condition will move upward, its time to look for buying opportunity. While its value rises over level 80 means the indicate in the overbought condition and selling signal has come up.

But it is not strong enough to directly take market entries, need some confirmation signal from other tool, bullish candle can be used to help it when oversold condition occured to take buy entry or bearish candle used as confirmation for overbought condition to selling entries.

Buy:

Swami Stochastic Indicator Buy condition

 Sell:

Swami Stochastic Indicator Sell condition

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