Double Smoothed Stochastic Forex Indicator (MQL5)

🎯 Double Smoothed Stochastic Indicator (MQL5)

📈 Accurate Trend Zones with Dual EMA Logic
👨‍💻 Shared by Dove Forex Markets
🔗 Website: doveforexmarkets.com

🔍 What Is It? 

The Double Smoothed Stochastic is an advanced oscillator that enhances the classic stochastic indicator using two layers of EMA smoothing and a custom price engine (including Heiken Ashi logic). It provides clear overbought and oversold zones with visual zone filling and a precise crossover line for clean market reversals and trend-following confirmations.

Originally developed by Mladen, and customized for broader application — this version delivers higher signal accuracy and less noise compared to the traditional stochastic.

🚀 Key Features:

✅ Advanced Smoothing Logic

Uses dual exponential moving averages to reduce choppiness

Provides better signal timing and trend continuity

✅ Dynamic Overbought/Oversold Visualization

Green fill for strong bullish zone

Orange fill for bearish rejections

Reversal-ready when levels cross 80 (overbought) and 20 (oversold)

✅ Heiken Ashi & Trend Price Modes

Select from standard prices or smoothed HA-based prices

Smooth transition across volatile candles

✅ Highly Customizable

Set the type of prices to evaluate: close, high, low, or Heiken Ashi variants

Adjustable periods for stochastic and both EMAs

Compatible with multiple strategies (scalping, swing, trend)

⚙️ Settings Overview:

StochasticPeriod: Main stochastic calculation period

EMAPeriod & EMAPeriod2: Dual smoothing layers

PriceForHigh/Low/Close: Choose data source per strategy

UpLevel / DnLevel: Define OB/OS zones (default: 80/20)

📊 Visual Components:

Line (DimGray): Dual-smoothed stochastic curve

Filled Zones: LimeGreen or Orange, depending on signal area

Levels: Overbought/oversold bands plotted at user-defined thresholds

🧪 Best Use Cases:

📉 Reversal Traders: Identify strong rejection from OB/OS zones

📈 Trend Followers: Use zero-lag smoothing to ride longer trends

🔄 Confluence Zones: Combine with price action or MA signals

🕒 Recommended Timeframes:

H1 and above for trend trading

M5–M15 for scalping strategies

Supports all Forex pairs, crypto assets, gold, and indices

💬 Need Help or Strategy Ideas?

Join our Telegram community for signal templates, updates, and trading setups:

👉 https://t.me/dovefxmarkets

🌐 Get This Powerful Oscillator Now

📥 Available exclusively at www.doveforexmarkets.com
✨ Let precision guide your entries.