STPMT - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
STPMT (Stochastics Medium Term Weighted) indicator.
The indicator has 26 customizable parameters, 24 of which are four similar parameter blocks, and the four stochastic indicators used for calculation have six input values each:
STPMT = (Stoch 1 weight* St1 + Stoch 2 weight* St2 + Stoch 3 weight* St3 + Stoch 4 weight* St4) / SumWeight
Where:
SumWeight = random 1 weight + random 2 weight + random 3 weight + random 4 weight
St1 = Stochastic (Stoch 1 Price Field, Stoch 1 %K Period, Stoch 1 %D Period, Stoch 1 Slowdown, Stoch 1 Method) Stoch2 = Stochastic (Stoch 2 Price Field, Stoch 2 %K Period, Stoch 2 %D Period, Stoch 2 Slowdown, Stoch 2 Method) St3 = Stochastic (Stoch 3 Price Field, Stoch 3 %K Period, Stoch 3 %D Period, Stoch 3 Slowdown, Stoch 3 Method) Stoch4 = Stochastic (Stoch 4 Price Field, Stoch 4 %K Period, Stoch 4 %D Period, Stoch 4 Slowdown, Stoch 4 Method)
Figure 1. Medium-term weighted stochastic indicator
Figure 2. Medium-Term Weighted Stochastic + Stochastic Data Used
Attachment download
📎 stpmt.mq5 (21.08 KB)
Source: MQL5 #21681
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