By using the “Time Frame 1” and “Time Frame 2” configuration parameters it is possible to specify the two timeframes.
This indicator is very useful to avoid a false signal generated by a single indicator that doesn’t consider the information coming from other timeframes.
For example, by configuring the indicator to pick up the information from that Daily and the H4 timeframes and by setting the current chart on the 1H timeframe it is possible to improve the entry accuracy.
An example that I am using an it is working well, is to follow the line crossing of the configured on the 1H chart only if the indicator is in synch:
- Long trade will be evaluated only if the Daily and 4H Stochastics have the K > D at the same time
- Short trade will be evaluated only if the Daily and 4H Stochastics have the K < D at the same time
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