Stochastic of average (on chart) – indicator MetaTrader 5

Theory :

Stochastic oscillator is usually used on prices. But sometimes that produces much noise. Some filtering methods can be used (like this : Stochastic of Filtered Price).

This version :

This version adds an option to use averages for that purpose instead. The averages types that can be used :

  • simple moving average(SMA)
  • exponential moving average (EMA)
  • smoothed moving average (SMMA)
  • linear weighted moving average (LWMA)

Also, this version is made to be displayed directly on the main chart, instead of being displayed in its own sub-window

Usage :

You can use the color change as signals (there are 3 color change modes added for that purpose)


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