ZLS – indicator for MetaTrader 5

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category:MT5 INDICATORS

Indicator ZLS (Zero Lag Stochastic) - a zero-delay stochastic - a ratio of several stochastics with different periods %К, deceleration, and weights.

The indicator has 31 input parameters:

  • Smoothing - the indicator signal line smoothing period (the only parameter common to all the stochastics).

First stochastic data:

  • Stoch 1 %K period - %K line period of stochastic 1.
  • Stoch 1 %D period - %D line period of stochastic 1.
  • Stoch 1 Slowing - deceleration of stochastic 1.
  • Stoch 1 Method - stochastic 1 calculation method.
  • Stoch 1 Price field - stochastic 1 calculation prices.
  • Stoch 1 Weight - weight of stochastic 1 values.

Second stochastic data:

  • Stoch 2 %K period - %K line period of stochastic 2.
  • Stoch 2 %D period - %D line period of stochastic 2.
  • Stoch 2 Slowing - deceleration of stochastic 2.
  • Stoch 2 Method - stochastic 2 calculation method.
  • Stoch 2 Price field - stochastic 2 calculation prices.
  • Stoch 2 Weight - weight of stochastic 2 values.

Data of stochastics 3, 4, and 5 are similar:

Calculation:

K = (S1 + S2 + S3 + S4 + S5) / SumWeight
D = K / Smoothing + PrevD * (Smoothing-1) / Smoothing

where:

S1 - Stochastic(1 %K period, 1 %D period, 1 Slowing, 1 Method, 1 Price field)
S2 - Stochastic(2 %K period, 2 %D period, 2 Slowing, 2 Method, 2 Price field)
S3 - Stochastic(3 %K period, 3 %D period, 3 Slowing, 3 Method, 3 Price field)
S4 - Stochastic(4 %K period, 4 %D period, 4 Slowing, 4 Method, 4 Price field)
S5 - Stochastic(5 %K period, 5 %D period, 5 Slowing, 5 Method, 5 Price field)
SumWeight = 1 Weight + 2 Weight + 3 Weight + 4 Weight + 5 Weight

ZLS - indicator for MetaTrader 5

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