Filter Price Random - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
In technical analysis, the Stochastic Oscillator is a momentum indicator that uses support and resistance levels. Dr. George Lane developed this indicator in the late 1950s. Term stochastic refers to the point where the current price is relative to the price range over a period of time. This method attempts to predict price turning points by comparing a security's closing price to its price range.
It adds an option to use filtered prices (originally released and described below: Filtered Prices ). The results are somewhat surprising given the nature of stochastic oscillator calculations. One expects serious problems to arise because filtered prices produce the same price over long periods of time, and stochastic calculations generally respond poorly to this. But after seeing the results, it seems like it could work, and here it is.
All the usual ones: you can use it as a regular stochastic indicator in any mode (setting the filter to 0 generates a stochastic (main) line on close/close that all other indicators cannot reproduce using a regular stochastic oscillator). You can also use color changes as signals.
Attachment download
📎 stochastic_of_filtered_price.mq5 (19.85 KB)
Source: MQL5 #23243
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