Stochastic Alerts redefines the Stochastic indicator for MetaTrader by eliminating the Stochastic window and adding alerts.
- Alerts the trader of buy/sell signals
The Stochastic Alerts MetaTrader indicator is recommended to the default Stochastic indicator for 2 main reasons. First of all, it does not use a separate window. By doing this, the chart is more clear and the trader gets a better view of the price action. Instead of a separate window, the Stochastic Alerts uses arrows to show the Stochastic line position regarding each other, in the overbought or oversold areas. Secondly, the Stochastic Alerts indicator uses alerts (if enabled), so the trader can be away from his trading station without fearing he'll lose trade signals.
As seen in the photo below, the indicator's settings are quite similar to the default Stochastic. The only extra addition are the options to enable/disable the alerts. Here, the trader can allow email alerts, sound alerts, push alerts or all these.
You can download this Metatrader indicator free from here.