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

Author: Andrei N. Bolkonsky

William Blau's Stochastic (Normalized Smoothed Q-Period Stochastic), described in the book Momentum, Direction and Divergence: Technical Analysis Using the Latest Momentum Indicators .

The values ​​of the q-period smooth random variable are normalized and mapped to the interval [0,+100]. It determines overbought/oversold conditions in the market.

William Blau's Stochastic Index Indicator

The calculation formula of the stochastic index indicator is as follows:

100 * EMA(EMA(EMA(price-LL(q),r),s),u) 100 *TStoch(price,q,r,s,u)
TStochI(price,q,r,s,u) = -------------------------------------------------- = ----------------------------------
EMA(EMA(EMA( HH(q)-LL(q) ,r),s),u) EMA(EMA(EMA( HH(q)-LL(q) ,r),s),u)

If EMA(EMA(EMA(HH(q)-LL(q),r),s),u)=0, then TStochI(price,q,r,s,u)=0.

Input parameters :

Attachment download

📎 blau_tstochi.mq5 (10.26 KB)

📎 williamblau.mqh (4.52 KB)

Source: MQL5 #364