DiNapoli Stochastic Indicator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

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The DiNapoli Stochastic indicator is based on the traditional Lane Stochastic indicator provided by the MetaTrader 5 software system. DiNapoli Stochastic exhibits a smoother indicator and therefore gives fewer false signals compared to traditional oscillators. This indicator is based on the description in the book "Trading With DiNapoli Levels" by Joe Dinapoli.

This oscillation smoothing method filters out the "noisiest" parts of price movements.
The DiNapoli Stochastic indicator can be used in strategies oriented to the standard Stochastic indicator. However, stronger smoothing may result in signal array loss. It is recommended to apply any trend indicator in order to use the indicator and its signal filtering more effectively.

Figure 1 DiNapoli stochastic indicator

Attachment download

📎 dinapolistochastic.mq5 (6 KB)

Source: MQL5 #1467