Dsl – stochastic – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • Stochastic is mainly used in combination with built in signal line
    and levels. Some prefer the levels some, on the other hand, signal
    line. We could dispute which one is the better, but it probably mainly
    depends on trading style.

    Here is a version that, in some way, combines the two types.
    signal lines idea is simple: when stochastic value is above central value
    (stochastic being 50), then only the upper signal line is calculated, and the
    lower signal line value is “inherited”. When the value of stochastic is bellow
    central value then the lower signal line is calculated and the upper
    signal line is “inherited”. That way we are getting a kind of
    combination of levels and signal lines without a need to change the
    value of the stochastic itself. As it is obvious it has its better sides
    compared to both methods (especially avoiding some problems with
    “trends” when signal lines alone are used). In any case extensive
    testing is advised.

  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window