DSS is similar to Stochastic except for this Indicator we use what is called double exponentially smoothing. This will give the trader a more speedy response to price changes which tends to smooth out the erratic movements of a regular Stochastic.

Because its always best to know what the larger timeframes are doing. I have adopted the tactic of overlaying the larger chart of DSS over the smaller chart to gauge whats going on overall and to pint point best entry or exit points.

I have left it adjustable for the user so they can tweak which size of charts they think is best but I've set it at a standard factor of 5 times larger than the main smaller chart.

Double Smoothed Stochastic Calculation is:

• DSS = EMA(r) (X - Lxn / Hxn - Lxn) x 100
• MIT = EMA(r) (close - Ln / Hn - Ln) x 100

• Ln = lowest low of n periods
• Hn = highest high of n periods
• Lxn = lowest low of the price series X of n - periods
• Hxn = highest high of the price series X of n - periods
• X = latest price of the price series X

Features

• Customizable so the user can input the required size of charts to overlay.
• Can change the color of the charts and arrows.
• Has choices of which alarms we want to use.
• Can be traded on any market and timeframe. (I tend to see more accurate signals on larger timeframes such as the 1hr chart)

Settings

SECTION1

Small Chart

• EMA settings for smaller chart
• Stochastic settings for smaller chart

Large Chart

• EMA settings for larger chart
• Stochastic settings for larger chart

SECTION2

• Bull Arrow - Sets color of bull arrow
• Bear Arrow - Sets color of bear arrow
• Bull DSS - Sets color of bull DSS
• Bear DSS - Sets color of bear DSS

SECTION3

• Soundfile - Sets the wave file used contained within folder program files > mt4 > sounds
• PlaySound - true means we here our PC alarm, false means we don't hear our PC alarm.
• MessageBox - true means we see a message box, false means we don't see a message box
• SendeMail - true means we get an alert sent to our email, false means we don't get an alert sent to our email.
• SendMobile - true means we get an alert sent to our mobile device, false means we don't get an alarm sent to out mobile device.