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Views:: 3847
Rating:: (9)
Published:: 2018.10.25 15:33

Double_Smoothed_MACD_Stochastic.mq5 (14.96 KB) view

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As its name suggests, this oscillator is a stochastic MACD smoothed twice

It has eight adjustable parameters:

Stochastic period
Smoothing - smoothing period
Signal period - signal line period
Fast EMA period
Slow EMA period
Applied price
Overbought - overbought level
Oversold - oversold level

Calculation:

DSS = PrevDSS + Beta * (DDS3-PrevDSS)
Signal = PrevSignal + Alpha * (DSS-PrevSignal)

where:

DDS3 = 100.0 * (DDS2-Min2) / (Max2-Min2)
Max, Min - maximum and minimum DDS2 values in the 'Stochastic period' range
DDS2 = PrevDDS2 + Beta * (DDS1-PrevDDS2)
DDS1 = 100.0 * (MACD-Min1) / (Max1-Min1)
Max1, Min1 - maximum and minimum MACD values in the 'Stochastic period' range
MACD = EMA(Applied price, Fast EMA period) - EMA(Applied price, Slow EMA period)
Alpha = 2.0 / (1+Signal_EMASignal period)
Beta  = 2.0 / (1+Smoothing)

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22080

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Double_Smoothed_MACD_Stochastic - indicator for MetaTrader 5