PROTECTED SOURCE SCRIPT
TQ_STOCH
This is a modified stochastic oscillator. It works very well with Forex pairs, traditional markets and has also proved itself profitable with BTC. The aim of this indicator is to help you predict a change in direction of the market.
When lower periods are above higher periods you are looking to buy of support and when lower periods are below higher periods you are looking to sell of resistance.
Lowest period: pink
Medium period: white
Longest period: turquoise
PERFECT LONG: pink line above the white and white above the turquoise. Turquoise should serve as support for the white line and white line should serve as support for the pink line. BUY when pink line tests the white line and bounces off.
PERFECT SHORT: pink line below the white and white below the turquoise. Turquoise should serve as resistance for the white line and white line should serve as resistance for the pink line. SELL when pink line tests the white line and bounces down.
You can also play less perfect signals where pink or white tests blue as support or where white is not above the blue line yet but you still get a test of the white from the pink. These are slightly more risky.
- SOME SIGNAL EXAMPLES:
Enjoy :)
When lower periods are above higher periods you are looking to buy of support and when lower periods are below higher periods you are looking to sell of resistance.
Lowest period: pink
Medium period: white
Longest period: turquoise
PERFECT LONG: pink line above the white and white above the turquoise. Turquoise should serve as support for the white line and white line should serve as support for the pink line. BUY when pink line tests the white line and bounces off.
PERFECT SHORT: pink line below the white and white below the turquoise. Turquoise should serve as resistance for the white line and white line should serve as resistance for the pink line. SELL when pink line tests the white line and bounces down.
You can also play less perfect signals where pink or white tests blue as support or where white is not above the blue line yet but you still get a test of the white from the pink. These are slightly more risky.
- SOME SIGNAL EXAMPLES:
Enjoy :)
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Penafian
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