Stochastic experiment – indicator for MetaTrader 5
It seems that for a long time stochastic has been neglected.
have seen new kinds of rsi, new kinds of averages, new kinds of ADX, new kinds of SAR, new kinds of almost
everything … except stochastic. Not just to filter inputs or to use something else instead of prices for calculations, but
the “pure stochastic” that would be different (new). Well this one
changes that a bit …
This stochastic allows you to have 4
different types of stochastic. And they are really different types,
since the “core” of the stochastic is changed and it makes new kinds of
stochastic — and prices are not changed at all. By default, if you are
using simple moving average for stochastic calculations, then the
stochastic is exactly the same as the built in stochastic. But the rest
of the averages (EMA — exponential moving average, SMMA — smoothed moving average and LWMA — linear weighted moving average) are producing stochastic that are
new kinds of stochastic.
Signal has the usual average types available too.
Coloring and alerts are based on the stochastic to signal crosses (the
“classical” way of using stochastic), but even with these settings, there
is a lot of room for experimenting.