Version 1.0 of our MSTx Stochastic indicator helps determine when a trend is strong vs. exhausted. The indicator is a modified version of the original stochastic. We added a second line for further confluence, which acts as support & resistance. The added smoothing toggle of the indicator can help you get a different perspective of the move. We also added a series of Fibonacci levels that act as pivotal areas. We have two highlighted areas that offer volatility. Our Red zone (upper fibs) should prompt you to look for short entries & our Grey zone (mid fibs), which acts as a neutral/range area.
Main line – Faster settings that move through support/resistance quicker. Signal line- Slower settings that tend to act as support/resistance for our main line.
Strategy: Shorting- Look for the Main line to cross down into the Signal line & then retest the Signal line. Stronger signal if algo is active (Maroon).
Longing – Look for the Main line to cross up into the Signal line & then retest the Signal line. Stronger signal if algo is active (Green).
This Oscillator was built around our buy sell indicator & it is used on all time frames for swinging & scalping. It is included as part of the library. Just message us for access!
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V 1.1 - Added alerts for top/bottom exhaustion
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V 1.2 -Added alerts for signal line exhaustion
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V 1.3 -Fixed alert
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V 2.0 -New algo incorporated for HTF confluence -New band added with specific behavior for HTF analysis (trend band) -New dot system put in place to give visual on momentum/exhaustion
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V 2.1 -Added alerts for signal line exhaustion (black) -Added bear/bull labels for divs -