Hey fellow traders! Today, let's dive into the SmoothStep indicator for MetaTrader 4 and explore how it can enhance your trading strategy.
In our trading journeys, we often come across situations where we need normalized values, whether we're analyzing charts, dabbling in machine learning, or simply doing some technical analysis. The SmoothStep indicator is a fantastic tool that provides just that.
This indicator falls under the category of sigmoidal functions, specifically clamping, which means it's designed to keep values within a specific range. Unlike the built-in stochastic indicator, SmoothStep retains its values between 0 and 1 and filters out some of the noise that the stochastic might produce. Plus, it allows you to use all typical price types—not just close prices or high/low combinations.
Recommendations:
- You can use the SmoothStep indicator just like you would with the built-in stochastic indicator.
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