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How to use Stochastic Oscillator with Support and Resistance Indicator

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Support and Resistance Indicator

Authored by: Dhong Ragudo

This topic is a very interesting since we will be going to discuss about this powerful indicator that we can use in our Entry in Forex trading.  We will start first with our Support and Resistance Indicator and Supported to verify with Stochastic Oscillator.

If you can see the above image, it is the indicator that uses Support and Resistance that is very powerful indicator entry. This indicator was develop by our very own forexpipsplus to support our subscribers. This includes Fibonacci values inclusive on the indicator provided. 

Here’s what you get during download.

1.Pipsplus FibGrid_lines

2.Pipsplus FibGrid_Shades

3.Pipsplus Entry Exit Signal

4. Pipsplus H1Candle+D1 high-low

5.Pipsplus MTF RSI Matrix v2


How to install it on your MT4.

Step1.  Drag each indicator from 1 to 5 item  to your MT4 currency pair.

Step 2. Choose Time-frame H1 for Day trading and confirmation trend at H4 timeframe.

For scalper method, Choose H1 timeframe lower.

 Below, You can see the Pipsplus FibGrid_Shades looks like once installed. You can remove this if only just want to use the Pipsplus Entry Exit Signal.

To understand the function of the Pipsplus FibGrid_Shades which is on orange color, It follows the fib grid  lines. Once the signal enter to the darker side of the top or down, it confirms that there is a peak or deep signals happening and normally it will show up to number 3 signal. and this indicates that reversals possibly may occur.


So, what makes special on this indicator? 

The main good thing on this indicator, it already identify for you the entry value as per below.

1 Orange color. this indicates that there is slight movement on the support or resistance.

2 Pink color. this indicates that there is Medium form on the support or resistance.

3 Yellow color. this indicates that there is Hard form of support or resistance on that particular pairs.

So, we only wait for number 3 signal indicator which is yellow for possible reversal on the particular pair market.

Do we enter directly the trade once we see the number 3 signal?

 Ok guys, don’t get excited to enter the trade. Once you see the indicator at number 3, you have to see the Stochastic oscillator to verify your entry.

Because, there is possibility that the market will still keep pushing higher or lower. So, the Stochastic oscillator will define your trade entry.


Is it  looks complicated? No worries, you can watch the video explanation below.

What is Stochastic Oscillator?


Stochastic Oscillator

Instead of me explaining what the Stochastic indicator is about, here’s what the founder of Stochastic has to say…

“Stochastic measures the momentum of price.

If you visualize a rocket going up in the air – before it can turn down, it must slow down.

Momentum always changes direction before price.” – George Lane

In other words:

The Stochastic is an indicator that measures momentum in the markets.

And for you math geeks out there, here’s the formula to calculate it…

%K = (Current Close – Lowest Low) / (Highest High – Lowest Low) * 100

%D = 3-day SMA of %K


Lowest Low = lowest low for the look-back period

Highest High = highest high for the look-back period

%K is multiplied by 100 to move the decimal point two places

Are you confused?  Hahaha.. no worries, you can use the default value on it. and we will share to you as well what we are using.

So below are the suggested value you can use to verify your entry reversal entry and you see the support and resistance indicator.

So, you only enter Sell trade once the Stochastic Oscillator is passing by 70 points on overbought levels moving to downward portion and Buy trade once 30 points on oversold level moving upward position.


Is it looks complicated? No worries get the video below how this settings works.

All the while, you have to monitor this Signal indicator in order for you to get the good entry.

But, what if you can use it Automated? by using Robot EA, you can automate it every entry of this indicator.

If you need it on Automation mode, download it on below link. Just add your e-mail address to send the copy to you.

Visit FOREXPIPSPLUS now to get a free copy of Forex Robotics and see premium plan for your needs.You can get further detail on this blog. For any query visit FAQ page.

Risk Advisory

   Trading on Forex is highly speculative and carries a high level of risk. It is possible to lose all your capital. You should not invest money in Forex trading that you can’t afford to lose. These products may not be suitable for everyone and you should ensure that you understand the risks involved. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. Seek independent advice if necessary.