Smoothed Q-Period Stochastic Indicator by William Blau
Info
The Smoothed Q-Period Stochastic Indicator by William Blau is a Indicator for MetaTrader 5 that smoothed q-period stochastic indicator by william blau this indicator is based on the standard stochastic indicator and calculates the distance between the current closing price and the lowest price over a specified period (q bars). The resulting value indicates the price position relative to the lowest price of the lookback period, with values greater than or equal to 0.
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 Smoothed Q-Period Stochastic Indicator by William Blau
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
Smoothed Q-Period Stochastic Indicator by William Blau This indicator is based on the standard stochastic indicator and calculates the distance between the current closing price and the lowest price over a specified period (q bars).
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.
Smoothed Q-Period Stochastic Indicator by William Blau This indicator is based on the standard stochastic indicator and calculates the distance between the current closing price and the lowest price over a specified period (q bars). The resulting value indicates the price position relative to the lowest price of the lookback period, with values greater than or equal to 0. To use this indicator: 1. Place the williamblau.mqh file in your terminal's \mql5\include\ folder. 2. Place the blau_tstoch.mq5 file in your terminal's \mql5\indicators\ folder. Calculation Details: The Q-period stochastic is calculated using the following formula: stoch(price, q) = price - ll(q) / (hh(q) - ll(q)) * 100 Where: price - is the closing price of the current timeframe. q - is the number of bars used in the stochastic calculation. ll(q) - is the lowest price over the q bars. hh(q) - is the highest price over the q bars. The smoothed Q-period stochastic is calculated by applying multiple Exponential Moving Averages (EMAs) to the initial stochastic value: SmoothedStoch = ema(ema(ema(stoch(price, q), r), s), u) Where: stoch(price, q) - is the initial Q-period stochastic value.Also recommended: heiken ashi smoothed indicator - similar indicator with strong performance on MetaTrader 5.
ema(stoch(price, q), r) - is the first smoothing with period r, applied to the stochastic value.ema(ema(..., r), s) - is the second smoothing with period s, applied to the result of the first smoothing.
ema(ema(ema(..., r), s), u) - is the third smoothing with period u, applied to the result of the second smoothing.
Input Parameters: q - The lookback period for the stochastic calculation (default: 5). r - The period for the first EMA smoothing (default: 20). s - The period for the second EMA smoothing (default: 5). u - The period for the third EMA smoothing (default: 3). appliedprice - The price to use for calculations (default: close price). Notes: - q must be greater than 0.
- r, s, and u must be greater than 0. If any of these are set to 1, that specific smoothing step is not applied.
- The minimum number of rates required for calculation is (q-1 + r + s + u - 3 + 1).
You may also like: smoothed accelerator indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#include <williamblau.mqh> // include file (terminal_data_folder\mql5\include)
#property indicator_separate_window // indicator in separate window
#property indicator_buffers 6 // number of buffers used
#property indicator_plots 1 // indicator plots
#property indicator_label1 "tstoch" // graphic plot label
#property indicator_type1 draw_line // draw as a line
#property indicator_color1 blue // line color.......
⚠ 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.