So far we have a lot to discuss about forex that can allow you to read forex charts and predict the price direction.
This time we are still going to discuss about indicators of technical analysis. If yesterday we talked about the trend indicator, so now we switch to oscillator indicators, used to determine areas of overbought and oversold.
And the first oscillator indicators to be discussed is the Stochastic Oscillator.
Stochastic Oscillator is an indicator that helps us to determine when trend might be end up. By definition, a Stochastic is an oscillator that measures overbought and oversold conditions in the market. Stochastoic Oscillator consists of two lines called %K and %D. %K is himself and the %D is the SMA of %K. It could be said that the %D is a line identifying the direction of %K.
This is the appearance of the stochastic oscillator.
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| Img 1 by. Erdy Wijaya (click image for larger view) |
Now we begin to hunt the treasure. Stochastic Oscillator gives us the location where the treasure is located. we can see the line up and down like a roller coaster at the amusement park. But these lines gives us a clue about the treasure that are stored in the forex world.
Take a look at the picture below.
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| Img 2 by. Erdy Wijaya (click image for larger view) |
Can you see the location of the treasure? I can see with the naked eye. Here's the explanation, the stochastic oscillator will give you information about the "state of the market that had" oversold or overbought. If stochastic is in area 80 (top) (%K and %D cross each other), then most likely the reversal will occur toward the bottom, it is the right moment to sell. And when the Stochastic Oscillator is in area 20 (bottom) (%K and %D cross each other), then most likely the reversal will occur toward the top, it is the right moment to buy. It's all in your hands, do you want to use that information or not? Take advantage, then you'll be a happy person.
Each trader has their own settings in using Stochastic Oscillator. And this is my settings, you can use it. But better if you create your own settings.
Do the steps on the image 1, then see the picture below.
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| Img 3 by. Erdy Wijaya (click image for larger view) |
After that, I began to search for treasure. This is what I do when the two lines pass through each other.
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| Img 4 by. Erdy Wijaya (click image for larger view) |
I really get the treasure, hehehehe. You can even try it. But you should try it first on a demo account until you really know this indicator. Like the other indicators, the stochastic oscillator also has a false signal. So be careful.
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