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Stochastic Elasticity Indicator
Introduction to the Stochastic Elasticity Indicator
The Stochastic Elasticity Indicator is a forex trading tool that tries to predict a change in price direction. The higher bar occurs, the higher probability of trade reversal is underway.
You can use it to support your trade entry points and exit decisions. We suggest utilizing it as an addition to your already proven and profitable trading system or strategy.
This forex indicator is displayed in a separate window place just below the main trading chart.
It fits all kinds of timeframes and currency pairs.
The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Stochastic Elasticity indicator in MT4?
Copy and paste the stochastic-elasticity-indicator.mq4 or stochastic-elasticity-indicator.ex4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, that goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
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