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

Fast Stochastic is one of the modifications of the popular С Stochastic oscillator. Lane's random means "quickly random." The main objective of the oscillator is to define the overbought/oversold areas of the market, after which the price reverses.

The Fast Stochastic Oscillator formula calculates the ratio of the current closing price to the highest or lowest price in a certain period. Therefore, the dynamics of the indicator can indicate the speed of the price movement.

As a traditional Stochastic indicator, the Fast Stochastic indicator is implemented in the chart as %K and %D lines and is calculated using the following formula:

%K[i] = 100*(price[i] — highest and highest price [N]) / (highest and highest price [N] — lowest and lowest price [N]);
%D[i] = MA(%K[i], P);

This is a slightly modified version of the standard indicator, therefore, its signal is represented by the crossing of the %K and %D lines and the output of the critical range.

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

Figure 1 FastStochastic indicator

Attachment download

📎 faststochastic.mq5 (11.05 KB)

📎 smoothalgorithms.mqh (134.03 KB)

Source: MQL5 #1457