Setting up the Stochastic Oscillator in MetaTrader 4
This guide shows you how to set up the stochastic oscillator in MetaTrader 4.
After reading this tutorial, you should be able to:
- Add the stochastic oscillator and set the parameters of this indicator
- Change the parameters
- Remove the stochastic oscillator
Add the stochastic oscillator and set the parameters of this indicator
- Click Insert and move your mouse over Indicators and Oscillators
- Click Stochastic Oscillator
Setting the common parameters
After you have completed the step above, the settings menu appears.
Most indicators can be controlled by several common parameters.
There are two types of parameters:
- Calculations of the indicator: e.g. the amount of periods used for the stochastic oscillator (you do not need to worry too much about this in the beginning)
- Visuals of an indicator: e.g. how it will look, the colour and thickness of the lines, etc.
Changing parameters at a later time
To change the settings of the indicator directly on the chart at a later date:
- Right-click the stochastic oscillator (you will have to be exact on the line of the indicator to get the menu seen below)
- Choose Stoch(5,3,3) Properties – (5,3,3) stands for the respective parameters (%K period, %D period and Slow) and can differ, depending on your choice in the beginning
The parameter menu appears again where you can change the indicator.
Deleting an indicator
To delete the stochastic oscillator:
- Right-click the indicator that you want to delete (you will have to be exact on the line of the indicator to get the menu shown below)
- Click Delete Indicator
The stochastic oscillator disappears from your chart.