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Published:

2016.10.28 15:13

Updated:

2016.11.22 07:32

double_stochastic.mq5 (5.46 KB) view

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A stochastic indicator with a twist: it is calculating a stochastic, and then a stochastic of that stochastic.

It is a variation of the well known double smoothed stochastic and as such it is filtering out a lot of false signals. For all the double smoothed stochastic versions, general rule of usage could be that they should be used on somewhat higher time frames — since it is a kind of a "trend" indicator, using it on very low time frames is not logical (having the very low time frames being almost nothing but noise)

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Double Stochastic - indicator for MetaTrader 5