The Market Change Cycles trading indicator for MT4 is a modified Stochastic that takes into account market volatility.
The Market Change Cycles indicator is an extended modification of the Stochastic oscillator, which calculates the Close position not only in relation to MaxHigh and MinLow, but also displays the difference between them from the opening price, which allows taking market volatility into account when creating a trading strategy.
How similar are Market Change Cycles and Stochastic Oscillator?
- the closer the histogram value is to the upper line, the closer the Stochastic Oscillator value will be to 100;
- the closer the histogram value is to the lower line, the closer the Stochastic Oscillator value will be to 0.
For example, as one of the options, this indicator can be used as a signal filter for the standard Stochastic Oscillator indicator in such way:
- if the MCC values (in D mode) several candles in a row are in the positive zone and at least one histogram bar has exceeded the level of 300 – then you may consider a sell order;
- if the MCC values (in D mode) several candles in a row are in the negative zone and at least one histogram bar is below the level of -300, then a buy order should be considered.
Features of Market Change Cycles MT4 indicator
- Platform: Metatrader 4
- Ability to change settings: Yes
- Timeframe: any from 1 Minute to Daily
- Currency pairs: any
In MCC.zip file you will find:
Download Market Change Cycles MT4 indicator for free: