VKW_Bands_Modify_Stochastic - MetaTrader 5 Script - MT4/MT5 Resources

This indicator is used to determine when pending orders should be placed, using the ColorMETRO_Stochastic Oscillator. Thick pink and light green lines define the boundaries of the channels. The most suitable time to place a pending order is when the dove-colored fast line of ColorMETRO_Stochastic exceeds the boundary of the channel and returns to the inside of the channel.

The indicator uses SmoothAlgorithms.mqh library class (copy it to \MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

This indicator requires compiled indicator file ColorMETRO_Stochastic.ex5. Place it in <terminal data folder>\MQL5\Indicators.

Figure 1. VKW_Bands_Modify_Stochastic indicator

Attachment download

📎 colormetro_stochastic.mq5 (9.14 KB)

📎 vkw_bands_modify_stochastic.mq5 (10.63 KB)

📎 smoothalgorithms.mqh (130.19 KB)

Source: MQL5 #14510