Stoch values im trying out are:
21,4,1
18,4,1
15,4,1
12,4,1
7,4,1
Check the circled area in the price and the corresponding area in stochs window. Its like convergence of some stochs results in trend reversal.
In the above example (18,4,1) touching (15,4,1) results in change in trend in first 3 encircled places and look at how nifty takeoff from there. (Click the bar on the top of the image to view bigger).
This is not a trading system. Rather its just a way to get alerted on reversal after continuous trend move. If i find similar pattern again, i ll post it.
If anyone has other ideas on finding trend reversal using TA/indicators/views please share it here for everyone's benefit.
