Here is a stochastic based template which uses standard indicators - except the one I have attached that creates current S&R levels on screen and are deleted when the level is broken.
The reason I have posted this is to emphasise the importance of the 'levels' within the stochastic indicator and it is one of a very few indicators that can transfer to a different timeframe with equally good results. You can check this for yourself and load the indicator and template then change timeframes on your favourite trading chart.
With this setting of stochastics I have added the levels so a trade is a lot easier to see at the time using my basic simple rules of recognition.
I have added the 'recognition rules' to the normal OBOS and K/D cross rules.
The recognition rules are :-
1. When the blue/red ma's are far apart and the blue has crossed into a different level you are expecting a 'springboard reversal' trade, and
2. When the blue/red ma's are close together you should wait for a trend to start using the S&R on screen.
3. When the BLUE re-enters/recrosses into another area FOLLOWING a K/D cross this is FAR more likely to produce a safe profitable trade.
I am confident that the area colours and levels will help traders get daily profits more often.
TEAMTRADER