Stochastics_Overlay - indicator for MetaTrader 5

Stochastics_Overlay – indicator MetaTrader 5

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Indicator Stochastic Overlay displays the chart as colored candles in accordance with the data of oscillator Stochastic.

It has eight adjustable parameters:

  • Data Stochastic Compare mode – Stochastic data comparison mode
    • Stochastic’s main and signal lines – Stochastic main line and signal line
    • Stochastic vs level 50 – Stochastic line as referred to level 50
    • Current and previous stochastic values – comparing the current and previous values of the Stochastic line
    • Stochastic vs OB/OS levels – Stochastic line as referred to the overbought/oversold levels
  • Stochastic %K period – Stochastic %K line calculation period
  • Stochastic %D period – Stochastic %D line calculation period
  • Stochastic slowing – Stochastic slowing calculation period
  • Stochastic price field – Stochastic calculation prices
  • Stochastic method – Stochastic calculation method
  • Stochastic overbought – Stochastic overbought level
  • Stochastic oversold –  Stochastic oversold level

Stochastic’s main and signal lines:

  • If the main line of Stochastic is above the signal line,
    then the bullish candle is displayed in green
    the bearish candle is displayed in light-green
  • If the main line of Stochastic is below the signal line,
    then the bearish candle is displayed in red
    the bullish candle is displayed in light-red
  • In all other cases, the candle is gray

Stochastic vs level 50:

  • If the line of Stochastic is above level 50,
    then the bullish candle is displayed in green
    the bearish candle is displayed in light-green
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  • If the line of Stochastic is below level 50,
    then the bearish candle is displayed in red
    the bullish candle is displayed in light-red
  • In all other cases, the candle is gray

Current and previous stochastic values:

  • If the main line values of Stochastic grow,
    then the bullish candle is displayed in green
    the bearish candle is displayed in light-green
  • If the main line values of Stochastic fall,
    then the bearish candle is displayed in red
    the bullish candle is displayed in light-red
  • In all other cases, the candle is gray

Stochastic  vs OB/OS levels:

  • If the main line of Stochastic is above the overbought level,
    then the bullish candle is displayed in green
    the bearish candle is displayed in light-green
  • If the main line of Stochastic is below the oversold level,
    then the bearish candle is displayed in red
    the bullish candle is displayed in light-red
  • In all other cases, the candle is gray

Fig. 1. Stochastic Overlay + Stochastic. Data Stochastic Compare mode = Stochastic’s main and signal lines


Fig. 2. Stochastic Overlay + Stochastic. Data Stochastic Compare mode = Stochastic vs level 50


Fig. 3. Stochastic Overlay + Stochastic. Data Stochastic Compare mode = Current and previous stochastic values


Fig. 4. Stochastic Overlay + Stochastic. Data Stochastic Compare mode = Stochastic vs OB/OS levels


https://www.mql5.com/ru/code/23430

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Stochastics_Overlay – indicator MetaTrader 5
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