The Fast Stochastic is a kind of George C. Lane’s stochastic oscillator.
The Fast Stochastic is the indicator that shows ratio between the current close price and the maximum/minimum of the preset period of time. This means the indicator is calculated on the moving data window and shows the price change rate.
The Fast Stochastic is shown in a chart as two lines %K and %D.
Classical formula to compute the Fast Stochastic is the following:
%K(i) = 100*(Close(i) - MaxHigh(N)) / (MaxHigh(N) - MinLow(N));
%D(i) = MA(%K(i), P);
Close(i) - close price of the current bar;
MaxHigh(N) - maximum High for N preceding periods;
MinLow(N) - minimum Low for N preceding periods;
MA - moving average;
N - the range of High/Low computation;
P - smoothing period for %D(i).
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/10023
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