#1 Slow Stochastic + BBands Stop MT4 custom indicator
Submitted by Edward Revy on April 27, 2008 - 04:10.
Trading setup
Currency pair: any
Time frame: any
Indicators: Slow Stochastic (5 ,3, 3)
BBands_Stop (also known as TopTrend indicator) default settings (20, 2)
BBands_Stop indicator can be your helping hand in confirming a trend, identifying trend change and setting stops.
Its appearance is pretty much self explanatory.
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Oh, sorry. I'll fix it.
I thought it doesn't need further interpretation. My fault.
Here is a screen shot with comments on it.
Please let me know if there is anything else to clarify.
What I also want to add is, that traders should not look at Bbands Stop indicator as as their only adviser to entries and exits. You'll soon find out that relying solely on indicator signals would not deliver desired profit results unless a strong trend is in place.
This doesn't mean, however, that indicator is useless. It works perfectly well for the purposed described above: stop trailing, trend confirmation and additional re-entry opportunities, while profit targets and initial early entries should be defined by other trading tools.
Regards,
Edward
hello,u dnt tell us hw to use this.can u pls explain something
Hi,
Now open the platform, from the menu above choose "Insert", "Indicators", "Custom" -> find your indicator there.
Regards,
Edward
hi I have downloaded the above 2 files, and put the files onto the path
C:\Program Files\FXDD - MetaTrader 4\experts\indicators.
What next, pls can you guide me, as me pretty new in FX.
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