Different timeframe stochastics

[Alexander.Gettinger]

Oscillator draw 3 stochastics with different timeframes and their average value as result line.

Download:

Stochastic3.lua

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The indicator was revised and updated

[emjay-short]

Known as Wallaby by Rob Booker (request was here viewtopic.php?f=27&t=4933&p=12411&hilit=Wallaby#p12411)

The Wallaby (Stochastic / yellow line) is the average of 3 different time frame Stochastics (ie 5m, 15m, 1H). It should be a good help to identify divergences where you then can try fade new price high or low in a counter trend trade which is in line with the long-term trend, with a tight tight stop. If you want to know how to use it, see this video (YT) and Rob's website below.

• http://www.youtube.com/watch?v=p_mYOBkkTrY
• http://rob.bz/1st-annual-presidents-day-rules-of-trading
• http://rob.bz/how-i-trade-divergence-on-the-short-term-char
• he also got wind that FXCM's MS supports his idea (indicator) now http://wallaby.me/wallaby-for-fxcm-trad ... -whoa-yeah *Apprentice gets in the Screencast a personal shout out*

I attached an example for the USDCHF.
Hope that helps to get an idea of this indicator.

[Apprentice]

Indicator was revised and updated.