False Breakout Stochastic
The False Breakout Stochastic automatically indicates strong trend moves by printing Yellow Dots in the Overbought zone for strong Bullish moves. Then in the OverSold zone for strong Bearish moves.
The indicator looks for criteria involving the %K and %D Stochastic lines having a false breakout crossovers against the main trend and then crossing back over.
Once the Stochastic breaks free of this false breakout state and moves to the opposing overbought or oversold zone and crosses in that opposing zone. It has a high probability of wanting to return to the zone where the Yellow False Breakout Dots were printed. This helps traders to enter trades after pullbacks against a main trend.
Please view the chart images on the left to help visualize how simple it is to use the False Breakout Stochastic to confirm entries after pullback against the main trend.
Whether Swing Trading, Intra-day or Day Trading, our adjustable False Breakout Indicator is a powerful tool that looks for and indicates trend strength and direction on any timeframe!
What do you get
False Breakout Stochastic Trading Indicator For The Thinkorswim Platform
False Breakout Stochastic Trading Indicator For The Thinkorswim Platform Trading Software – PaulBratby.com
Specification: False Breakout Stochastic For Thinkorswim