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Stochastic of T3 - indicator for MetaTrader 5

Mladen Rakic | English Русский 中文 Español Deutsch 日本語 Português

votes: 12
2018.03.28 09:46

The Stochastic Oscillator is a momentum indicator comparing the price to the range of its prices over a certain period of time. The sensitivity of the oscillator to market movements is reducible by adjusting that time period or by taking a moving average of the result.

This version reduces the number of false alerts by smoothing the price prior to be used in the stochastic calculation. That makes a nice smooth stochastic as a result that can easily be used for trend trading systems.


This version of MACD uses Hull Moving Average for MACD calculation instead of using EMA (as the original Gerald Appel version does). That makes it "faster" than the EMA version and suitable for scalping techniques as well as for trending techniques (if longer calculation periods are used).

Point of Balance Point of Balance

The indicator shows current trend by showing a color of the current balance. The opposite color is not displayed as long as it does not become a trend (hence, lack of color, means the opposite trend is the prevailing)

RSI of average RSI of average

A very well known RSI of average is made with, all in all, 3 lines of a code in a main loop (color assignment on RSI slope change included in those 4 lines). This one can be used as template for some other indicator and can provide a simplicity solution for those that think that everything is very complicated in MetaTrader 5.

MACD of average MACD of average

This is a MACD that can use average for input price instead of using "pure" price. That can help in filtering some false signals, but the main purpose of this code is to show how simple some things can be done using MetaTrader 5. In addition to all usual options when it comes to this type of indicators, option to have color changes based on MACD slope change or MACD crossing signal line.