The Stochastic Oscillator is a Momentum indicator comparing the
closing price of a security 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.
The Stochastic Oscillator is calculated using the following formula:
The general theory serving as the foundation for this indicator is
that in a market trending upward, prices will close near the high, and
in a market trending downward, prices close near the low. Transaction
signals are created when the %K crosses through a three-period moving
average, which is called the %D.
The usual average that is used for stochastic calculation is simple
moving average (SMA). This version allows you to use any of the 4 basic
types of averages (default is SMA, but you can use EMA, SMMA or LWMA
too) - some are "faster" then the default version (like EMA and LWMA
versions) and SMMA is a bit "slower" but this way you can fine tune the
"speed" to signals ratio.
Author: Mladen Rakic
Once again thanks for stoch extended ver,a real good toy
though currently MT5 indicators are being coded with basic functions and of course there is no space for any extension and or request even though i like request when it come turn especially regarding this version,for some smoothing factor addition plz