Double smoothed stochastic Blau - indicator for MetaTrader 5

Theory:

This version can easily be tracked down. It was originally published in an TASC article "Double-Smoothed Stochastic" by William Blau and was published way back in 1990. The calculation is defined as:

where:

C = Current close
La = Lowest low in a days
Ha = Highest high in a days
Ey = y-day exponential moving average
Ez = z-day exponential moving average

This version:

It is calculating as described, and is adding signal/trigger line for easier trend assessment.

Usage:

You can use color changes as signals.