PROTECTED SOURCE SCRIPT
Bender Stochastic MTF With Buy & Sell Signals
A stochastic indicator is a technical analysis tool that uses random data points to forecast price changes in a financial security. It compares the closing price of a security to its price range over a set period of time. The indicator is designed to indicate when a security is overbought or oversold by comparing the closing price to the price range over a certain number of periods. A stochastic indicator can be used to identify potential buying or selling opportunities. It is often used in conjunction with other technical analysis tools to provide a more comprehensive analysis of market conditions.
Configurable Indicator Signals
Please Note:
This indicator is also embedded in the Bender Bot strategy script. Signals and confluence identified by this indicator can be used to autonomously mange strategies. The below settings will not have any effect on this indicator's functionality when used as a stand alone indicator.
Bender Bot Strategy Confluence
Configurable Indicator Signals
- Signal on k & d Stochastic Line Crosses
- Invalidate Signal if not in a overbought or oversold pressure zone
- Invalidate signal on neutral zone breach
- Invalidate signal on reverse cross
- Invalidate signal after a user set number of bars
- Delay signal until the cross is considered strong by calculating the distance between the stochastic lines the a user set threshold
Please Note:
This indicator is also embedded in the Bender Bot strategy script. Signals and confluence identified by this indicator can be used to autonomously mange strategies. The below settings will not have any effect on this indicator's functionality when used as a stand alone indicator.
Bender Bot Strategy Confluence
- Close any open trade on reverse k & d Stochastic line crosses
- Require any signal and Stochastic directional confluence before opening any trade
- Require any signal and Stochastic pressure to be in confluence before opening any trade
- Require any signal to be in directional confluence with the Stochastic signal
Disclaimer
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