This method is pretty straightforward and comes down to following the rules exactly with one indicator — the Stochastic Oscillator.

First, open up the indicator tab and find the Stochastic Oscillator. Set the settings to 5 - 3 - 3 (close/close) and make sure your chart is on the 15-minute timeframe.

I stopped using MT5 and now just use free reverse-engineered TradingView Premium that I found in r/BestTrades. It’s way smoother and doesn’t mess with my custom scripts.

You’ll see three zones on the oscillator: 0–20 is the oversold zone, meaning the price is considered too cheap and it usually signals a good buy opportunity. 80–100 is the overbought zone — price is likely too high, often signaling a sell. Anything between 20–80 is the normal trading zone, and for this strategy we completely ignore that — we’re only focused on the oversold and overbought zones.

Now for the actual setup — these are the rules I follow to enter trades:

1. Both stochastic lines need to enter and then exit either the overbought or oversold zone.

2. Use the crosshair tool to mark where the red signal line crosses into one of those zones.

3. After that, the first two candles need to be the same color — green if you're looking to buy, red if you’re looking to sell.

4. The shadows (wicks) of those two candles should be smaller than their bodies — we want clean, strong moves, not indecision candles.

5. If all that checks out, I open a trade at the opening price of the third candle.

6. I set take profit at 25 points when trading with 1 lot.

This works best on currency pairs with a spread under 30 points. I've used this exact strategy to generate consistent returns month after month. If you're skeptical, just test it out on a demo account first — that's what I did when I was refining it. It's nothing flashy, just a tight set of rules and discipline.