I don’t understand… The Stochastic at the bottom (0) of the Indicator is a LONG Signal.
On your H1 chart I have a railway track and stochastic signalling
a short signal. However, I don’t trade H1
but 7 more pips and I’m out hopefully
it all stated to look bullish on H1 with pin bar candle pattern
so I got out for - 0.30
Confluence
The cross of Stochastic with ADX exhaustion seems
perfectly confluent = price upward bound whilst
down move exhausted
I really like this. The signal screams out at you.
It might lose but there is no ambiguity here
Are you supposed to quote yourself?
anyway, nothing bearish but everything bullish
PA, price retracing and body resting on fib 50
confluent with stoch and all MAs crossing each
other to the upside
under construction
July first ten days now 1.56
You can’t get excited by daily or weekly results
if you can come out ahead most months you
are doing better than 98% of traders
If I end the month around 2.0 I will be quite pleased
Previously, where I may have recorded a string of winners,
what you don’t see is the many open trades in serious DD
so, it is refreshing, maybe for the first time, and for a
Monday morning, to show a profit mid way through the month,
with no DD on any of the open trades
I upload screenshots in the anticipation it may never happen
again )
I opened a sell trade on EURGBP in expectation of
price going down. I still hold to that, however I could go into
serious DD before that happens
@Jerome32, Where did I mention arrows, I was strictly trading the Stochastic… (See Below)
AUDJPY… 85+ pips in the last 6 days… it just works… nice and simple…
Similar attitude, different indicator. but the arrow can extend indefinitely
whereas stochastic at worst recalculates during the period of the current
bar which is hardly repainting.
There could be some mileage in this
When price is trending, Stochastic confluent with an engulfing pattern.
Seemed to work on H1.
I was short on D1 and got out for a small loss. price never really
went up or down, just consolidation
As you can see on second screenshot, DiNapoli Stochastic
indicated Long but nothing happened
There has to be supporting price action, This is no magic
indicator. Obviously I wish it was
I have no idea of direction now on D1
I think I need the simplest strategy only, I have never
found complexity to be profitable in trading
Hi @Jerome32, As I have showed you in a previous post… your periods are far too tight… you still have uptrends showing in Red… Not sure how you got the Stochastic Indicator to display so erratically…
Your Chart looks like you’re trying to generate a scalping signal… this is a setup for failure…
AUDCAD Daily Chart
DiNapoli Stochastic 6, 3, 2, same settings I showed you here (2 weeks ago) so, no curve fitting here…
Combined with a Colour MA over the Signal Line.
I have also allowed for any lag by moving the change of direction forward 1 day as confirmation.
Similar discussion about using the DiNapoli (MT4) on the D1 with @frandlost on this thread…
I have no affinity to the DiNapoli Indicator … it just works… nice and simple…
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If I had checked DiNapoli on AUDCAD I would not have gone Long
The standard Stochastic with a 6 3 2 setting works very well
as confirmation to Price Action, specifically engulfing pattern
out and in of BB
However DiNapoli is very good at filtering out false signals
They also work very well in combination when confluent with
Price Action
I am watching two at the moment. EURGBP an engulfing
pattern is forming at top of BB
If Stochastic crosses DiNapoli on D1 it will be a very strong SELL
signal. Otherwise it may continue up for a bit longer.
On GBPAUD I am hoping for a bounce off Weekly Trendline and
if we get a convincing Engulfing pattern and cross of Stochastic over
DiNapoli* it should be a good BUY signal
sorry to sound like a signal service
*I am aware that DiNapoli is a Stochastic indicator, but it is
configured differently to the standard Stochastic, and even
when both are set to 6 3 2 they can give very conflicting
indications. However, when used in combination
AND price action, you have a very powerful signal
Not everyone will agree with this, no two traders see the
charts in the same way
1 Like
Where did you get the dinapoli stochastic indicator, and how do you get it to work? I found a version for mt5, but it doesn’t seem to do anything…
Very insightful! The rule of thumb is approximately 30/70! Well done and keep up the good work in this era of “Information Asymmetry”!
You don’t get it to work exactly, just put it on your chart.
I use settings of 6 3 2 but whatever works best for you
TWB is the Dinapoli man
StochasticDiNapoli_v1.ex4 (10.4 KB)