Double Smoothed Stochastic Indicator
Info
The Double Smoothed Stochastic Indicator is a Indicator for MetaTrader 5 that this is an on-chart indicator that displays the double smoothed stochastic values directly on the price chart. The indicator is based on the popular stochastic oscillator, which is a momentum indicator that compares a particular closing price to a range of prices over a given time period.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Double Smoothed Stochastic Indicator
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
This is an on-chart indicator that displays the double smoothed stochastic values directly on the price chart.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Heiken Ashi ATR Blend: Smoothed Candles and Early Entry Signals - another powerful indicator for MetaTrader 5 traders.
This is an on-chart indicator that displays the double smoothed stochastic values directly on the price chart.Also recommended: AIS Smoothed Linear Trend Indicator - similar indicator with strong performance on MetaTrader 5.
The indicator is based on the popular stochastic oscillator, which is a momentum indicator that compares a particular closing price to a range of prices over a given time period.
By applying a double smoothing technique, this indicator aims to provide a clearer and more stable representation of the stochastic values, reducing noise and potential false signals.
Features:
- Double smoothing of stochastic values for enhanced clarity.
- Customizable parameters for period and smoothing.
- Visual representation on the price chart for easy reference.
You may also like: Double Envelopes Historical Gauged - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 13
#property indicator_plots 2
#property indicator_minimum -1
#property indicator_maximum 101
#property indicator_label1 "double smoothed stochastic"
#property indicator_type1 draw_color_bars.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.