Stochastic Index Indicator (Normalized Smoothed Q-Period Stochastic)
Info
The Stochastic Index Indicator (Normalized Smoothed Q-Period Stochastic) is a Indicator for MetaTrader 5 that stochastic index (normalized smoothed q-period stochastic) by william blau. This indicator normalizes and maps the values of a Q-period smoothed stochastic into the [0, 100] interval, enabling the identification of market overbought/oversold conditions.
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 Stochastic Index Indicator (Normalized Smoothed Q-Period 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
Stochastic Index (Normalized Smoothed Q-Period Stochastic) by William Blau.
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: multi-timeframe relative strength index (mtf rsi) indicator for mt4/mt5 - another powerful indicator for MetaTrader 5 traders.
Stochastic Index (Normalized Smoothed Q-Period Stochastic) by William Blau. This indicator normalizes and maps the values of a Q-period smoothed stochastic into the [0, 100] interval, enabling the identification of market overbought/oversold conditions. Installation: Place williblau.mqh in your terminal's MQL5\Include folder. Place blau_tstochi.mq5 in your terminal's MQL5\Indicators folder. Stochastic Index Indicator by William Blau Calculation: The Stochastic Index indicator is calculated using the following formula: Where: price - the closing price. q - the number of bars used in the calculation. ll(q) - the lowest price over the last q bars. hh(q) - the highest price over the last q bars. stoch(q) = price - ll(q) - the Q-period stochastic. tstoch(price,q,r,s,u) - the triple smoothed Q-period stochastic. hh(q) - ll(q) - the Q-period price range. ema(...,r) - the first smoothing step with period r, applied to: - the Q-period stochastic. - the Q-period price range. ema(ema(...,r),s) - the second smoothing step with period s, applied to the result of the first smoothing. ema(ema(ema(...,r),s),u) - the third smoothing step with period u, applied to the result of the second smoothing. If ema(ema(ema(hh(q)-ll(q),r),s),u) equals 0, then tstochi(price,q,r,s,u) will be 0. Input Parameters: q - the period used for stochastic calculation (default: 5). r - the period for the first EMA smoothing applied to the stochastic (default: 20). s - the period for the second EMA smoothing applied to the result of the first smoothing (default: 5). u - the period for the third EMA smoothing applied to the result of the second smoothing (default: 3). appliedprice - the price to which the indicator is applied (default: PRICE_CLOSE). Notes: q > 0. r > 0, s > 0, u > 0. If r, s, or u equals 1, smoothing is not applied. The minimum number of rates required for calculation is (q - 1 + r + s + u - 3 + 1).Also recommended: stochastic multi-timeframe indicator - similar indicator with strong performance on MetaTrader 5.
You may also like: stochastic oscillator indicator for metatrader 5 - 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 a separate window
#property indicator_buffers 12 // number of buffers used
#property indicator_plots 1 // indicator plots
#property indicator_level1 40 // level #0
#property indicator_level2 60 // level #1
#property indicator_levelcolor silver // level 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.