Double Smoothed Stochastic - MetaTrader 5 Script - MQL5 #23276 - MT4/MT5 Resource
There seems to be a lot of confusion when it comes to doubly smoothed randomization. There are quite a few versions, and some people claim to be its inventors - some do, and some don't have any traceable evidence of being the true inventor. To keep the whole thing more organized, several versions will be released.
It was a "basic" version that claimed to have been invented by one person, but that claim came in the description of a commercial package at a time when there were already free versions of Double Smoothed Random Variables on the web, so the "inventor" claim would be ignored in this name and it was simply named DSS (Double Smoothed Random Variables). It is calculated as the EMA of (stochastic(stochastic EMA)) - that's where the "double" comes in: not only is it bi-smoothed, but it's also bi-stochastic.
It also adds price selection and the usual "low/high" combination (which is the default).
The indicator adds signal (or trigger) lines to make it easier to evaluate entries (and exits). You can use color changes as signals.
Attachment download
📎dss.mq5 (15.17 KB)
Source: MQL5 #23276
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •