Free indicator "Z-OST" for MT4 that allows you to freely change the parameters from the screen
Have you ever wanted to tinker with the parameters of moving averages (MA) and stochastics to find the optimal values for golden crosses and dead crosses?
However, in order to change parameters, you inevitably have to right-click the moving average and adjust the parameters each time.
This is quite tedious.
You end up right-clicking the chart every time to change the parameters...
Of course, changing the parameters will also change where the moving averages cross, which in turn changes the entry points.
Starting from scratch again is quite a slog.
Everyone has thought at least once that it would be convenient to have an indicator that lets you tweak parameters like this...
Change MT4 indicator parameters freely from the screen
Not limited to moving averages, many indicators such as the Stochastic and Bollinger Bands have a wealth of parametersfor each indicator.
Investigating all these combinations really requires patience.
This is exactly a case of hard work for little reward.
If parameter changes could be made from the screen and entry signals could be adjusted freely, work would progress considerably...
And then, the developer of EA Avail released an interesting tool.
This tool actually has buttons on the screen; by clicking a button, you can change the values of the moving averages one by one,and it can generate signals at the crossing point of two moving averages.
With Z-OST, the crosses of MA and Stochastic are easy to understand
This means thatgolden cross and dead cross can be understood just by clicking buttons.
Moreover,you can determine the entry position on screenas well.
↑ This is an example of the Stochastic
This is,a truly innovative tool that has not existed until now, right?
This tool can verify not only the moving average crosses but also the golden cross and dead cross for Stochastic as well.
This is interesting.
Z-OST can also be used to test entry rules
Ifyou are considering entry rules using moving averages or stochastics, Z-OST will be quite effective.
Because it can generate signals from the past to the present.
Just press the buttons and you can instantly locate the positions of each golden cross and dead cross.
When you try it, you’ll find signals are displayed and updated in an instant.
Parabolic SAR and Bollinger Bands for suppressing entries during irregular price movements
With only golden crosses and dead crosses, during abnormal price movement you may end up getting caught at highs or lows and take losses.
The interesting part of Z-OST is that it includes Parabolic SAR and Bollinger Bands as options.
While Bollinger Bands are typically used for reversal strategies, in Z-OST they can be used to control (prevent) entries when prices move abnormally.
For example, see the following.
Price movement suddenly becomes steep. Entering at this timing with a golden cross would lead to buying at a high and taking a loss.
Here Bollinger Bands come into play. If price touches the σ2 line of Bollinger Bands, you can suppress the entry.
Create your own entry turns with Z-OST
Using Z-OST, you can not only verify existing entries but also naturally generate new entry rules.
There are three modes to choose from: Stochastic (trend-following), Stochastic (counter-trend), and Moving Average.
By optionally adding Bollinger Bands and Parabolic SAR, you can control entries.
The adjustable parameters are as follows.
| Option / Mode | Stochastic (trend-following) | Stochastic (counter-trend) | Moving Average (MA) |
| None | 5 parameters | 5 parameters | 2 parameters |
| Bollinger Bands | 8 parameters | 8 parameters | 5 parameters |
| Parabolic SAR | 8 parameters | 8 parameters | 5 parameters |
| Bollinger Bands & Parabolic SAR |
With this many parameters that can each be changed individually, the combinations are endless.
Why did MT4 EA Avail developer Ore era create this tool? (Interview)
When I interviewed Ore era, the developer of MT4 EA Avail, I learned about this tool beforehand.
So I also asked about Z-OST this time.
Whether professional traders or amateurs, everyone is always thinking about when to take positions to win.
Moving averages and stochastic are indicators frequently used by EA developers, and I have also found them useful when thinking about this combination.
I would be grateful if both discretionary traders and those interested in EA development could use it as a reference for adjusting values.
Alpaca asked me why I would offer this for free, andZ-OST has many aspects that can still be improved; at this level, it is better for many people to use it for verification and development support.
Please try this tool and put it to use in your trading.
[Important 1] Z-OST is effective as a real-time signal tool
This is important: the indicator can be used as a signal tool as well.
In other words, on a real-time chart, it will emit signals when the timing is right.
[Important 2] Z-OST is also useful for those interested in EA development
Using this parameter-setting indicator, I realized this could be valuable for EA development too.
If your EA uses MA and Bollinger Bands (or the combinations above with Stochastic or Parabolic SAR), you can visually inspect entry points before running a backtest.
Of course, backtesting has its advantages, but if you can determine entry points by tweaking small numeric settings, this tool becomes very practical.
(The developer Ore era himself sometimes uses this for preliminary validation.)
[Important 3] How long will Z-OST be free?
There is no specific end date announced for the free availability.
What’s noteworthy is thatrecently EA-HANA suddenly stopped offering for free, and there is a real possibility that developers or sellers might terminate it unilaterallyfor various reasons.
Honestly, it might be wise to grab it while it’s available.
Source
FX automated trading reviews and reputation: EnjoyFX
