Multi time frame Stochastic
The idea for this is quite simple and no rocket science necessary to make decisions. This is to help you (hopefully) to anticipate instead of participate.
The thick yellow line is the default Stochastic (14,3,3); the shades of blue are lower time frame lines while the shades of red are higher.
When the 17 strands form a rope it's time for action, buy or sell. When the rope disentangles be cautious and/or exit.
Another good place to act is where the strands form angles (peaks & valleys) but not necessarily a nice rope yet. Check that you are in the overbought/oversold areas when actioning this.
When the rope forms a fishnet, beware, you will get caught! Hopefully you are out by then and waiting for the next peak/valley/rope to form.
You can also change the time frame to differ from that of the chart's time frame if you want to study or test strategies.
Use this with other indicators (Bollinger Bands, MA's) to help your decision making.
Hope this helps.
The thick yellow line is the default Stochastic (14,3,3); the shades of blue are lower time frame lines while the shades of red are higher.
When the 17 strands form a rope it's time for action, buy or sell. When the rope disentangles be cautious and/or exit.
Another good place to act is where the strands form angles (peaks & valleys) but not necessarily a nice rope yet. Check that you are in the overbought/oversold areas when actioning this.
When the rope forms a fishnet, beware, you will get caught! Hopefully you are out by then and waiting for the next peak/valley/rope to form.
You can also change the time frame to differ from that of the chart's time frame if you want to study or test strategies.
Use this with other indicators (Bollinger Bands, MA's) to help your decision making.
Hope this helps.
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