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DSS 2TF Trader

DSS is similar to Stochastic except for this Indicator we use what is called double exponentially smoothing. This will give the trader a more speedy response to price changes which tends to smooth out the erratic movements of a regular Stochastic.

Because its always best to know what the larger timeframes are doing. I have adopted the tactic of overlaying the larger chart of DSS over the smaller chart to gauge whats going on overall and to pint point best entry or exit points.

I have left it adjustable for the user so they can tweak which size of charts they think is best but I've set it at a standard factor of 5 times larger than the main smaller chart.

Double Smoothed Stochastic Calculation is:

  • DSS = EMA(r) (X - Lxn / Hxn - Lxn) x 100
  • MIT = EMA(r) (close - Ln / Hn - Ln) x 100
  • Ln = lowest low of n periods
  • Hn = highest high of n periods
  • Lxn = lowest low of the price series X of n - periods
  • Hxn = highest high of the price series X of n - periods
  • X = latest price of the price series X


Features

  • Customizable so the user can input the required size of charts to overlay.
  • Can change the color of the charts and arrows.
  • Has choices of which alarms we want to use.
  • Can be traded on any market and timeframe. (I tend to see more accurate signals on larger timeframes such as the 1hr chart)


Settings

SECTION1

Small Chart

  • EMA settings for smaller chart
  • Stochastic settings for smaller chart

Large Chart

  • EMA settings for larger chart
  • Stochastic settings for larger chart

SECTION2

  • Bull Arrow - Sets color of bull arrow
  • Bear Arrow - Sets color of bear arrow
  • Bull DSS - Sets color of bull DSS
  • Bear DSS - Sets color of bear DSS

SECTION3

  • Soundfile - Sets the wave file used contained within folder program files > mt4 > sounds
  • PlaySound - true means we here our PC alarm, false means we don't hear our PC alarm.
  • MessageBox - true means we see a message box, false means we don't see a message box
  • SendeMail - true means we get an alert sent to our email, false means we don't get an alert sent to our email.
  • SendMobile - true means we get an alert sent to our mobile device, false means we don't get an alarm sent to out mobile device.
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