Recursive Double Smoothed Stochastic Indicator
Info
The Recursive Double Smoothed Stochastic Indicator is a Indicator for MetaTrader 5 that a variation of the double smoothed stochastic indicator with a unique calculation approach. This indicator employs a two-step smoothing process, unlike the original Double Smoothed Stochastic (DSS) which uses three steps.
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 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
A variation of the Double Smoothed Stochastic indicator with a unique calculation approach.
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: Double Envelopes Historical Gauged - another powerful indicator for MetaTrader 5 traders.
A variation of the Double Smoothed Stochastic indicator with a unique calculation approach.Also recommended: double exponential moving average (dema) - similar indicator with strong performance on MetaTrader 5.
This indicator employs a two-step smoothing process, unlike the original Double Smoothed Stochastic (DSS) which uses three steps. It offers a practical 'depth' limit of 15 and utilizes previous step results for each subsequent calculation.
Key features:
- Four types of averages for smoothing:
- Simple Moving Average
- Exponential Moving Average
- Smoothed Moving Average
- Linear Weighted Moving Average
- Three types of level calculations:
- Floating
- Quantile
- Fixed
- Color changes and alerts based on slope, outer level crosses, or middle-level crosses.
- Multi-timeframe capability with a range of price options, including Heiken Ashi prices.
Note: The Double Smoothed Stochastic indicator, with its default parameters, has historically performed best on longer time frames, particularly in revealing cycles on 1-hour charts. It is recommended to start with this timeframe when exploring the indicator's capabilities.
You may also like: Double Smoothed Stochastics (DSS) Bressert Indicator - 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.