MT5-Double Smoothed Stochastic

Double Smoothed Stochastic is similar to Stochastic except for this Indicator we use what is called double exponentially smoothing.

This will give the trader a more speedy response to price changes which tends to smooth out the erratic movements of a regular Stochastic.

Double Smoothed Stochastic Calculation is :

DSS = EMA(r) (X - Lxn / Hxn - Lxn) x 100

MIT = EMA(r) (close - Ln / Hn - Ln) x 100

Ln = lowest low of n periods

Hn = highest high of n periodsLxn = lowest low of the price series X of n - periods

Hxn = highest high of the price series X of n - periods

X = latest price of the price series X

Features :

• Customizable so the user can input the required size of charts to overlay.
• Can change the colour of the charts and arrows.
• Has choices of which alarms we want to use.
• Can be traded on any market and timeframe. (I tend to see more accurate signals on larger timeframessuch as the 1hr chart)

Settings :

Moving Average Settings

• EMA - EMA settings
• Stochastic - Stochastic Settings
• Shift - Shift value of bar calculation is based

Object Colors

• DSS Up Color Arrow - Sets color of up arrows.
• DSS Down Color - Sets color of down arrows.

Alert Settings

• Soundfile - Sets the wave file used contained within folder program files > mt4 > sounds
• PlaySound - true means we here our PC alarm, false means we dont here our PC alarm.
• MessageBox - true means we see a message box, false means we dont see a message box
• SendeMail - true means we get an alert sent to our email, false means we dont get an alert sent to our email.
• SendMobile - true means we get an alert sent to our mobile device, false means we dont get an alarm sent to out mobile device.

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