Stochastic indicator Blau_TStoch - MetaTrader 5 script | Forex indicator download - MT4/MT5 resources
Author: Andrei N. Bolkonsky
William Blau's Stochastic (smoothed q-period stochastic) is based on the stochastic indicator (see Momentum, Direction and Divergence: Applying the Latest Momentum Indicator to Technical Analysis ).
It shows the distance between the closing price and the lowest price of q bar. The value of the Stochastic indicator shows the price position relative to the lowest price of the period (q bars), with a value >= 0.
Stochastic indicator Blau_TStoch
The q-period stochastic indicator is calculated using the following formula:
stoch(price,q) = price-LL(q)
The smoothed q-period random variable is calculated as follows:
TStoch(price,q,r,s,u) = EMA(EMA(EMA(stoch(price,q),r),s),u)
Input parameters:
Attachment download
📎 blau_tstoch.mq5 (7 KB)
📎 williamblau.mqh (4.52 KB)
Source: MQL5 #363
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