Introduction to the Double Smoothed Stochastic Non Repaint Indicator
The Double Smoothed Stochastic Indicator is a custom forex non-repainting indicator with an alert, based on the Stochastic oscillator and Exponential moving average indicators. You will find also find buy/sell trading arrows. You can use this indicator used for scalping, day trading, swing trading, and trend following too!
The Double Smoothed Stochastic Non Repaint Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to use the Double Smoothed Stochastic Non Repaint indicator:
Below you can find trading rules of the Double Smoothed Stochastic indicator.
Sell entry signals
Open short order (sell trade) when the following conditions are met:
- The signal of the indicator is red and line color is orange.
- Double Smoothed Stochastic is greater than 80.
Buy entry signals
Open long order (buy trade) when the following conditions are met:
- The signal of the indicator is blue and line color is green.
- Double Smoothed Stochastic is greater less than 20.
Exit trade / take profit suggestions:
Close sell trade when the indicator gets a buy signal.
Close buy trade when the indicator gets a sell signal.
Stochastic Period = 55
EMA Period = 15
How to set up the Double Smoothed Stochastic Non Repaint indicator in MetaTrader (MT4)?
Download the Double Smoothed Stochastic Non Repaint.rar archive at the bottom of this post, unpack it, then copy and paste the Double Smoothed Stochastic Non Repaint.ex4 or Double Smoothed Stochastic Non Repaint.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Double Smoothed Stochastic Non Repaint indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 Double Smoothed Stochastic Non RepaintIndicator
To download the Double Smoothed Stochastic Non Repaint Indicator for Metatrader 4 (MT4) for free just click the button below: