DSS Bressert – double smoothed stochastic (Double Smoothed Stochastic Indicator by Walter Bressert) – indicator for MetaTrader 4

  • Platform: Metatrader4
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • Its calculation algorithm is very similar to that of stochastic indicator. The value above 80 signifies the overbuying, the value below 20 signifies the overselling.

    The formula for the calculation is taken from the website http://www.tradesignalonline.com/Lexicon/Default.aspx?name=DSS%3A+Double+Smoothed+Stochastics+(Bressert)

    Description
    One after the other, William Blau and Walter
    Bressert each presented a version of the Double Smoothed Stochastics.
    Two exponentially smoothed MAs are used to even out the input values
    (H, L and C), in a similar way to the well-known stochastic formula.

    Calculation
    Calculation of the DSS indicator according to Bressert is similar to stochastics.
    1.)
    The numerator: first the difference between the current close and the
    period low is formed. The denominator: here the difference between the
    period high minus the period low is calculated. Now the quotient of
    numerator and denominator is calculated, exponentially smoothed and
    then multiplied by 100.
    2.) The method is analogous to 1.) with the distinction that now the prices of the newly calculated price series of 1.) is used.

    Parameters
    The
    adjustable period length can be chosen from 2 to 500. The most common
    settings will have a period length ranging from 5 to 30. In addition,
    the indicator can be smoothed in the interval from 1 to 50. Meaningful
    smoothing values lie in the short-term range.

    Interpretation
    The
    application of the DSS is comparable with that of the stochastic
    method. Accordingly, values above 70 or 80 must be regarded as
    overbought and values below 20 or 30 as oversold. A rise of the DSS
    above its center line should be viewed as bullish, and a fall of the
    DSS below its center line as bearish.

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  • How to install MT4 indicator?
  • 1. On the desktop, double-click to open the MT4 trading platform software you installed.
  • 2. Click on “File” – “Open Data Folder” in the upper left corner, double-click the MQL4 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT4, 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
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