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Please define price field. I did search in forum to see if I could find the answer in some of the previous posts by anyone but could not find it.

Thanks a lot

Currently in version 3.14 you can manage the following prices:
Open
Close
High
Low
iOpen
iClose
iHigh
iLow
Ask
Bid

I am also this question: What is Price Field, which is within TA?

It depends what you mean by Price Field...

If you select Moving Average, then you choose from:
Close
Open
High
Low
Median
Typical
Weighted
(as to the latter 3, see http://blog.nobletrading.com/2009/12/median-price-typical-price-weighted.html for general definitions)

Or you can select a particular price directly to use as your indicator:
Close
Open
Low
High
Bid
Ask
(see http://book.mql4.com/variables/predefined)

If you select User Defined Price, then it's whatever you type (0.00000 for example).

(v3.15)

RJO Thanks for the help, but what I mean is that simple! This is the Stochastic indicator:

See http://docs.mql4.com/indicators/iStochastic


Some indicators can be calculated based on different price inputs, i.e. ma can use any bar price and more, Stochastic can be calculated using 0 - Low/High or 1 - Close/Close.

Could you please give examples of how to use it as little understood!

I'm waiting!

See you soon!

From http://www.forexfactory.com/showthread.php?p=1481562:

"As far as I can tell, High/Low uses the following formula to calc %K:
100 x (Recent Close - Lowest Low*) / (Highest High* - Lowest Low*)
[* for the last N periods, where N is the %K parameter]

whereas Close/Close uses the following formula to calc %K:
100 x (Recent Close - Lowest Close*) / (Highest Close* - Lowest Close*)"

So, changing the Price Field setting changes the price used in calculating the %K line. The stochastic indi has 2 lines: %K (fast) and %D (slow). The %D line is a slowed version of the %K line. So if you change the price used in the calculation of the %K line, you are thereby changing the calculation of the %D line as well--you are changing the entire indi.

For the entire stochastic calculation, visit the link at the top of this post. If you want more reading, visit the link at the top of that post. To watch the indi in action, go to your standard Indicators folder in MT4 (not Custom Indicators), attach the Stochastic Oscillator, and change the Price Field setting. For a working EA example, simply build the mol in SB and select 0's or 1's.