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On the TimeToTrade charts, a Stochastic Oscillator indicator can then be used to execute trades, provide an Email or SMS text message notification when your candlestick chart patterns have been met or backtest a trading strategy.
The oscillator values fluctuate in a range between 0 and 100, and as such the indicator can be readily used to identify overbought and oversold levels. Readings above 80 occur when the market is trading near the top of its recent price range. Readings below 20 occur when the market is trading near the bottom of its recent price range.
How to Create Stochastic Alerts
To create an alert, go to the timetotrade CHARTS page >> and enter the ticker symbol for the stock or currency pair you wish to follow.
On timetotrade's Stochastic Charts, the Stochastic %K is a blue line and the red line represents the Stochastic %D.
You can adjust the indicator colours and default period and deviation parameter values to find the best fit between price movement and the Stochastic indicators to suit you.
To the bottom left hand side of timetotrade's price and technical charts are sets of "Alert Trigger Buttons":
The following Stochastic Alert Triggers are available on the timetotrade system:
Rising and Falling Threshold Alerts
Stochastic Alert "Rising" and "Falling Threshold" Trigger Buttons can be used to create an alert to notify you, or execute trades, when the stochastic rises above or falls below a particular value.
For example, to create an alert that will be triggered and notify you, or execute trades, when the %K oscillator rises above a particular value eg 80, just click the "Rising Threshold" Trigger button, as indicated in the screen shot below.
Once you click on the charts' Alert Trigger Button, a text box appears on the stochastic chart, as shown.
Input the trigger value, eg 80 and Click the "Add Trigger" button.
The trigger will appear in the the Build Alert widget to the right hand side of the chart (as illustrated below). From here you can further customise the alert: add your own personal alert message, choose whether the alert will run once or will be reactivated once triggered, add more triggers to create a Multi-Condition alert and select your preferred methods of notification (email, instant messenger and/or SMS alerts).
Once you have finished customising your alert, click the "Activate" button.
And that's it!
Your alert is created. It really is that simple.
The next time the stochastic %K rises above 80, you will receive an alert to your email, instant messanger or cell phone.
Stochastic % Pull Back / Break Out Alert
Stochastic Alert "% Pull Back / Break Out" Trigger Buttons can be used to create an alert to notify you, or execute trades, when there is a percentage increase or decrease in the Stochastic within the defined interval period.
For example if a stock was increasing in price and you wanted to be notified if there was a stochastic pull-back of more than 2% in a day and therefore a potential change of trend, you would use the "Pullback" Trigger to create the alert to notify you, or execute trades, when your investment conditions are met.
Stochastic Cross Over Alert
To create an alert that will be triggered when the Stochastic %K oscillator (dark green line) rises above the Stochastic %D oscillator (red line), follow the steps as shown in the diagram:
Step 1: Click on the "Postive Crossover" Trigger button
Step 2: Click on the "add trigger" button
Step 3: Click the "activate" button
The next time the %K oscillator crosses over above the %D oscillator you will be notified by an alert sent to your email or cell phone.
You customise the alerts to suit you: for example you can edit the alert message you will receive, decide how you would like to be notified and which email and/or mobile phone you would like the alert sent to.
Stochastic Break Out & Pull Back Alerts
Stochastic Alert "Breakout" and "Pullback" Trigger Buttons can be used to create an alert to notify you, or execute trades, when there is a sudden change in the stochastic based on a fixed increase or decrease in value within a given time interval.
For example if the stochastic was falling and you wanted to execute a trade when it changes trend and increases by 5 points, you would use the 'Breakout' Trigger Buttons to create the alert.
Once you click on the charts' Alert Trigger Button, a text box appears below the stochastic chart, as shown.
Step 1: Select the "Break Out" Trigger Button
Step 2: Input the trigger increase, eg 5
Step 3: Click the "add trigger" button.
Step 4: Click the "activate button.
The next time the stochastic %K increases by 5 points, you will receive an alert to your email or cell phone.
As previously, you could edit the alert to include your own personal alert message, choose whether the alert will run once or will be reactivated once triggered, add more triggers to the alert and select your preferred methods of notification (email and/or SMS alerts).
Customise Your Alert
You can customise the Stochastic Alerts further to suit you, for example:
- Select how you wish to be notified: email, instant messenger or SMS text alert to your mobile
- Edit and personalise the alert message you will receive
- Select the "sleep period" if you would like the alert to automatically reactivate itself once triggered.
- Add additional alert triggers to create a Multi-Condition alert
- Choose for alert conditions to be checked either at the end of the candle interval or checked on each tick received from the exchange.
More information on how to use the timetotrade system to create Stochastic Alerts can be found on the Creating an Alert >> pages.
Stochastic Trading Strategies
You can use TimeToTrade to execute trades when your Trigger Trading™ alert conditions have been met. For example, an order can be created to sell 100,000 GBPUSD when your Stochastic alert trigger conditions have been met, with a take profit order if the price decreases by 20 points / pips and a stop loss if the price increases by 10 points as per the following example:
TimeToTrade can also be used to create alerts on Price and Volume as well as the technical indicators such as Stochastic, RSI, Bollinger Bands and Moving Averages plus a lot more. You can also create alerts on your own Custom Indicators.
Once you are familiar with creating basic alerts you can use TimeToTrade's advanced features to customise your alerts to suit you. You can build compound alerts containing multiple trigger conditions against price and multiple technical indicators; for example: you could set up an alert to notify you, or execute a trade, when the price falls below a defined value followed by the stochastic increasing above 20 and then a positive MACD crossover:
You can also edit the alert message you will receive and be notified by Email and SMS text messages when your alert trigger conditions are met.
To learn more about Sequencing and Grouping Multiple Alert Triggers click here.
Check Alert Triggers at Interval Close or on Each Tick During the Interval
Alerts can be set up to check if the trigger condition has been met at the end of an interval or on each tick during the interval. When creating alerts, click on the alert trigger and set the 'Check trigger when' field to 'interval closes' or 'on each tick during the interval' to change the behaviour.
For example if you wanted to check if the Close Price at the end of a 15 minute interval rises above 1.5, select 'interval closes' as illustrated:
If however you wanted to check for example if the hourly RSI falls below 30 and want to get an alert if that happens during the 1 hour interval, rather than checking at the close of the 1 hour interval, check the alert trigger 'on each tick during the interval' as illustrated:
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