Double Smoothed Stochastics (DSS) Bressert Indicator
Info
The Double Smoothed Stochastics (DSS) Bressert Indicator is a Indicator for MetaTrader 5 that the double smoothed stochastics (dss) indicator, proposed by william blau and walter bressert, is a variation of the stochastics indicator with a key difference in its calculation. Calculation:The DSS values are calculated using double exponential smoothing, which involves two smoothing processes.
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 Stochastics (DSS) Bressert 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
The Double Smoothed Stochastics (DSS) indicator, proposed by William Blau and Walter Bressert, is a variation of the Stochastics indicator with a key difference in its calculation.
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: AIS Smoothed Linear Trend Indicator - another powerful indicator for MetaTrader 5 traders.
The Double Smoothed Stochastics (DSS) indicator, proposed by William Blau and Walter Bressert, is a variation of the Stochastics indicator with a key difference in its calculation.Also recommended: Double Envelopes Historical Gauged - similar indicator with strong performance on MetaTrader 5.
Calculation:
The DSS values are calculated using double exponential smoothing, which involves two smoothing processes. The formula is as follows:
where:
- ln is the lowest price (n bars);
- hn is the highest price (n bars);
- lxn is the lowest value of xn (n bars);
- hxn is the highest value of xn (n bars);
- ema(r) is the exponential moving average (r-period).
Interpretation:
The interpretation of DSS values is similar to the Stochastics indicator. Values above 80 indicate an overbought market condition, while values below 20 suggest an oversold market.
Implementation:
This indicator was first implemented in MQL4 and made available on 08.08.2022.
You may also like: heiken ashi smoothed indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_plots 1
#property indicator_type1 draw_filling
#property indicator_color1 blue,deeppink
#property indicator_label1 "dss bressert"
#property indicator_level1 80.0.......
⚠ 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.