StochV Melpheos Indicator in MetaTrader 5 – Free Download [TradingFinder]

The StochV Melpheos indicator was developed for the MetaTrader 5 platform and operates based on stochastic structures.

This tool accurately identifies overbought and oversold conditions and generates visual signals for trade entry and exit.

By combining oscillatory movements with a digital display system, traders can identify trend reversal points directly on the chart, simplifying market analysis.

StochV Melpheos indicator table

The general specifications of the StochV Melpheos indicator are shown in the table below.

StochV Melpheos indicators at a glance

The performance of the StochV Melpheos indicator is based on comparing the closing price to the price range during the trading period.

The result of these calculations is an oscillator line moving between key levels in the overbought and oversold zones.

In addition to showing real-time market conditions, this trading tool quickly identifies price reversal points by displaying colored numbers on the chart:

• Green numbers : Buy signal
• Purple numbers : Sell signal

These numbers act as visual markers, confirming when the indicator lines cross overbought and oversold zones.

Indicators in a Bullish Trend

The price chart below shows the BNB Cryptocurrency Index on a 5-minute time frame.

When the indicator line exits the oversold zone upwards, green numbers will appear on the chart. This indicates that selling pressure is subsiding and the market is gradually shifting towards demand, highlighting areas suitable for buy trades.

Indicators in a Bearish Trend

The chart below shows the AUD/USD currency pair on the 5-minute time frame.

When the indicator line moves downward from the overbought zone, purple numbers appear on the chart. This indicates a decrease in purchasing power and generates a signal for a sell trade.

StochV Melpheos indicator settings

The image below shows the settings panel of the StochV Melpheos indicator in the MetaTrader 5 platform:

Fast_Stoch_Settings

• K1 : K period number in fast stochastic indicator
• D1 : Number of D periods in the fast stochastic indicator
• S1 : signal smoothing value in fast stochastic indicator
• M1 : average period of fast stochastic indicator
• Price_Field1 : Price data type used

Medium_Stoch_Setting

• K2: Number of K periods in the medium stochastic indicator
• D2: Number of D periods in the medium stochastic indicator
• S2 : signal smoothing value of medium random signal
• M2 : Average period of the medium stochastic indicator
• Price_Field2 : price data type used in the medium stochastic indicator

Slow_Stoch_Settings

• K3 : K period number in slow stochastic indicator
• D3 : The number of D periods in the slow stochastic indicator
• S3 : Signal smoothing value in slow stochastic indicator
• M3 : Average period of the slow stochastic indicator
• Price_Field3 : price data type used in slow stochastic indicator

Case 1_Filter_Settings

• Show_Case1 : Show or activate case 1 filtering
• OSOB_Fast_Stoch1 : Overbought/oversold levels of fast stochastic indicator
• OSOB_Med_Stoch1 : Overbought/oversold levels of the medium stochastic indicator
• OSOB_Slow_Stoch1 : Overbought/oversold levels of the slow stochastic indicator
• Medium_Stoch_Speed_Filter1 : Medium stochastic signal speed filter
• Slow_Stoch_Speed_Filter1 : Signal speed filter in slow stochastic
• MA_Filter_Period1 : Moving average filter period of the signal

Case2_Settings

• Show_Case2 : Show or activate case 2
• OSOB_Fast_Stoch2 : Overbought/oversold levels of fast stochastic indicator in case 2
• OSOB_Med_Stoch2 : Overbought/oversold levels of stochastics in case 2
• OSOB_Slow_Stoch2 : Overbought/oversold levels of slow stochastic indicator in Case 2
• Medium_Stoch_Speed_Filter2 : Speed ​​filter in medium stochastic case 2
• MA_Filter_Period2: Moving average filter period in case 2
• MA_Speed_Filter2 : Moving average speed filter in case 2

Case3_Settings

• Show_Case3 : Show or activate case 3
• OSOB_Fast_Stoch3 : Overbought/oversold levels of fast stochastic indicator in case 3
• OSOB_Med_Stoch3 : Overbought/oversold levels of stochastics in case 3
• OSOB_Slow_Stoch3 : Overbought/oversold levels of slow stochastic indicator in case 3
• Medium_Stoch_Speed_Filter3 : Speed ​​filter in medium stoch case 3
• Slow_Stoch_Speed_Filter3 : Speed ​​filter in slow stochastic case 3
• MA_Filter_Period3 : Moving average filter period in case 3
• MA_Speed_Filter3 : Moving average speed filter in case 3

Case4_Setting

• Show_Case4 : Show or activate case 4
• OSOB_Fast_Stoch4 : Overbought/oversold levels of fast stochastic indicator in Case 4
• Super_OSOB_Filter : Special overbought/oversold filter
• MA_Filter_Period4 : Moving average filter period in case 4
• MA_Speed_Filter4 : Moving average speed filter in case 4
• Use Alert : Enable system alerts
• Use mail Alert : Disable email alerts

Conclusion

The StochV Melpheos indicator on MetaTrader 5 acts as a visualization tool for analyzing short-term and long-term trends.

By combining numerical and color-coded signals, it identifies price reversal points with greater precision and highlights overbought and oversold areas to determine areas suitable for buy and sell trades.