The Stochastic of Adaptive Smoother Metatrader 5 forex indicator uses the standard deviations adaptive smoother for price filtering instead of using a “plain” smoother for this purpose.
Adapting is carried out with the help of the standard deviations in a bid to make the indicator react faster to changes in price as quickly as it is possible.
We can consider the Stochastic of Adaptive Smoother to be a trending forex indicator.
It has marked levels of 90.00, 100.00, 10.00 and 0.00, which denotes overbought, highly-overbought, oversold and highly-oversold regions respectively.
Download the “stochastic_of_adaptive_smoother.ex5” MT5 indicator
The EUR/JPY H1 chart below displays the Stochastic of Adaptive Smoother Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the lime line and histograms of the Stochastic of Adaptive Smoother Metatrader 5 forex indicator breaks above the 50.00 signal level.
Sell Signal: Go short when the orchid line and histograms of the Stochastic of Adaptive Smoother Metatrader 5 forex indicator breaks below the 50.00 signal level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the lime line of the Stochastic of Adaptive Smoother MT5 forex indicator breaks below either the 90.00 or 100.00 levels, after breaching either of the levels.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the orchid line of the Stochastic of Adaptive Smoother MT5 forex indicator breaks above the 10.00 or 0.00 levels, after breaching either of the levels.
Tips: The basic or default settings for this indicator is well-suited for day traders, but further adjustments will allows scalpers deploy this tool as well.
Download the “stochastic_of_adaptive_smoother.ex5” Metatrader 5 indicator
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Stochastic period, Price to use, Smoothing period, Period for smoother adapting, Color down, color Up), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: oscillator | trend
Copy and paste the stochastic_of_adaptive_smoother.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)