SSD with Histogram Indicator
Platform: MT5 Type: Oscillator Last update: July 20, 2024The SSD With Histogram Indicator for MT5 is based on a slow stochastic and signal lines plus, as the name suggests, a histogram that reflects the difference between them. All these elements are displayed within a separate window located below trading chart.
Formula used
For technical geeks, this is exactly how the calculations are performed:
K = Stochastic D – 50.0
D = SMA(K, %D Period)
Histogram = K – D
How to interpret provided readings?
The histo can take either positive (uptrend, above 0 level) or negative values (downtrend, below 0 level). What’s more, its bar are colored green and red, and it respectively means bullish and bearish momentum. When there is momentum in contrary to market bias, it suggests potential pullback.
When it comes to alignment of lines, green one over red one corresponds to upward movement. Conversely, the opposite setup implies downward movement action.
