Double Stochastic Indicator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
A stochastic with a change: it calculates a stochastic and then calculates the stochastic of that stochastic.
It is a variation of the well-known double-smoothed stochastic indicator, so it can filter out many false signals. For all the double smoothed stochastic versions, general rule of usage could be that they should be used on somewhat higher time frames — since it is a kind of a "trend" indicator, using it on very low time frames is not logical (having the very low time frames being almost nothing but noise)
Attachment download
📎 double_stochastic.mq5 (5.46 KB)
Source: MQL5 #16712
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