Recognizing the unique preferences and trading styles of traders, we have developed StochMFI Pro with the aim of adding more diversity to the Stochastic Indicator family. This intelligently integrated indicator equips you with the ability to effectively identify potential reversal points and analyze market momentum. With StochMFI Pro by your side, you gain a powerful tool to enhance your trading decisions and maximize your analysis capabilities.
StochMFI Pro combines the widely recognized Stochastic and MFI indicators, utilizing the MFI value as an input rather than relying on market price. When the %K and %D lines intersect within the overbought or oversold areas, the oscillator generates reversal signals.
So, what distinguishes StochMFI Pro from the conventional Stochastic and MFI indicators?
- StochMFI Pro offers entry signals and highlights overbought and oversold areas on the price chart, helping you easily capture trading opportunities.
- The frequency of reversal signals generated is higher because the oscillator has the ability to swiftly move between overbought and oversold areas.
- The sound alert and popup are integrated to promptly notify you whenever signals emerge, avoiding any missed trading opportunities.
When the overbought or oversold area starts to be highlighted on the main panel, it is highly recommended to start looking for a retracement in the price action for a potential reversal. Because at this point, the StochMFI Pro value is approaching the extreme limits of its scale.
Stochastic has always been a highly favored indicator due to their simplicity and proven accuracy in identifying potential market reversals. We are delighted to present an enhanced edition of the traditional stochastics, promising an elevated trading experience for you. If you are an active trader seeking market reversals and desiring a more accurate measure of overbought and oversold conditions, make sure to explore the sensitive StochMFI Pro oscillator.
Dedicated NinjaScript signals:
- Signal_State: 1 = overbought, -1 = oversold, 0 = middle
- Signal_Trade: 1 = %K cross above %D in oversold, -1 = %K cross below %D in overbought, 0 = no signal
- 19 Jul 2023 - The indicator was released (build new).
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