You can also use this in conjunction with other indicators such as a moving average to help you pick your entry point. There is no set moving average to use, but in below example, I have selected a 20 day as I have found this can give very clear entry points without sticking too close to the price line.

The dual Stochastic technical analysis is based on combining a fast and a slow stochastic indicator and searching for instances where they are opposite extremes. In the below example, I have used 20% and 80% as my levels of extreme which can be seen in the indicator window. This trading strategy is best used in trending markets as it will give the fewest false positives.
The stochastic oscillator presents the location of the closing price of a stock in relation to the high and low range of the price of an instrument over a period of time. The indicator does not follow price or volume but follows the momentum of the price change before the price itself changes.

When applying these to your MT4 chart you can see the settings I have used below.

Fast Settings

In the below, I have included both the Stochastic Indicators into the one window which helps to analyze and spot the extremes. Just make sure that when loading the second indicator you drop the indicator into the lower indicator window. If you drop it onto the chart a second window will appear above the first.

Dual stochastic indicator

Slow Settings

Slower Stochastic – When the slow indicator is above the fast and above the 80% level it is showing an upward trend, and when it is below it is showing a downward trend.

Faster Stochastic – When the fast indicator is below the slow and below the 20% level it means that there has been a sharp pullback, and when it goes above the 80% mark shows a strong movement upwards.

Crossover – On the Stochastic chart there will be multiple crossovers between the two but there are only certain ones that will give you a buy or sell signal. What you are looking for are the two lines at extreme polar opposites, so one above the 80% and the other below the 20% level at the same time. In the above example, when the faster goes below the 20% level and at the same time, the slower is above 80%, that is a signal to buy. This is due to there being a short pullback with a general upwards trend. On the below example you have the opposite where the slow is below the 20% and the fast is over 80% to indicate a sell order.