recursive (double) smoothed stochastic
Info
The recursive (double) smoothed stochastic is a Indicator for MetaTrader 5 that variation on the "double smoothed stochastic" theme. the name might be a bit misleading: it is not exactly the same in its calculation as the "double smoothed stochastic" (dss actually has 3 smoothing steps, this one really has 2 smoothing steps — so we might say that this is really double smoothed stochastic), and it adds what the original does not have.
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 recursive (double) smoothed stochastic
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
variation on the "double smoothed stochastic" theme.
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: MT F RS I Smoothed (Recursive) - another powerful indicator for MetaTrader 5 traders.
variation on the "double smoothed stochastic" theme.
the name might be a bit misleading: it is not exactly the same in its calculation as the "double smoothed stochastic" (dss actually has 3 smoothing steps, this one really has 2 smoothing steps — so we might say that this is really double smoothed stochastic), and it adds what the original does not have. it can use prices for start and then each and every next step is using previous step result. the "depth" is limited to 15 simply for practical reasons.
Also recommended: recursive cc i - similar indicator with strong performance on MetaTrader 5.
the indicator can use 4 types of averages for smoothing :simple moving average
exponential moving average
smoothed moving average
linear weighted moving average
it can calculate 3 type of levels :
floating
quantile
fixed
colors change (and alerts) can be chosen based on:
on slope
on outer levels cross
on middle level cross
and the usual: it is already multi time frame with the usual choice of prices (heiken ashi prices included)
ps: double smoothed stochastic is for long time showing that, with the default parameters that were used by walter bressert, it works best on longer time frames. it specially tends to clearly show cycles on 1 hour chart, so, if you are new to it, start by using it on that time frame and then build your way to other time frames and ways of using it.
You may also like: recursive median oscillator - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ 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.