The Fast Stochastic indicator is one of modifications of a popular stochastic oscillator of С. Lane’s stochastic that means “fast stochastic”. The main objective of the oscillator is definition of overbought / oversold zones of the market after which the price reversal comes.
The Fast Stochastic oscillator formula calculates the ratio of the current close price to the maximum or the minimum for a certain period, thus, the dynamics of the indicator can indicate the speed of the price action.
As a traditional Stochastic, the Fast Stochastic is realized in the chart in the form of %K and %D lines which are calculated using the following formula:
%K[i] = 100*(Price[i] — MaxHigh[N]) / (MaxHigh[N] — MinLow[N]);
%D[i] = MA(%K[i], P);
The is a little modified version of the standard indicator, thus, its signals are represented by crossing of %K and %D lines and also the output from the critical ranges.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging price series for intermediate calculations without using additional buffers”.
MT5 Indicator – Download Instructions
FastStochastic is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
FastStochastic provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install FastStochastic.mq5?
- Download FastStochastic.mq5
- Copy FastStochastic.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on FastStochastic.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator FastStochastic.mq5 is available on your Chart
How to remove FastStochastic.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: