Random Step Chart - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
The stochastic indicator is well known and widely used. Sometimes some filtering methods are also used in sequence to avoid some false signal conditions that the stochastic indicator may produce in certain markets. Here is another version that will try to solve the problem by using a random filter
This version uses step graphs as filters to reduce randomly generated signals (if possible), making it easier and safer to use. The step size will be entered as a random percentage that you wish to use as a filter for the smallest random change that should be considered a significant change
You can use the color change of the step bar as a signal
Attachment download
📎 step_chart_-_stochastic.mq5 (14.1 KB)
Source: MQL5 #22319
Random Step Chart - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Random Step Chart - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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