That's pretty interesting SG. Compressed bollies in the top or bottom zone gives us a heads up for potential reversals.
I'm thinking Git's programming skills would be really handy right now on the Stoch Histogram. Remember his RIS3 for multiple pairs? Wouldn't it be neat if he could set up something to show the levels on the Stoch Histogram for one pair on multiple time frames all on one chart....1 minute on up. All sorts of neat setups that could occur. For example, in an uptrend, we could watch for potential pullbacks on the hourly back to the key 25 level and maybe that would correspond to a pullback to the 0 level on the 5 or 15 minute chart...double support levels that could lead to a resumption of the trend and give us a heads up for a nice entry.
Well SG, I did find this on the web...a multi-time frame Stoch Histogram. It's even got the levels set up so instead of having to drop parallel trend lines in place and set the values, you just go to the Levels tab and type in the levels you want.
Not quite what I was looking for but it does offer a nice view during a trend where all of the histograms are signaling a long condition, in this case on the GU hourly chart.
I have the 4 hour, hourly, and 15 minute shown here. The idea would be to enter a long when all 3 cross over into the green and hold till the lowest time frame goes red...exit at that point.
I'm still looking back over the charts to see how well this plays out but this particular one would have given a total of 270 pips till the 15 minute Stoch went red. Might be a no-brainer way to ride a trend for more pips.
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