Hey fellow traders! Today, we’re diving into the SmoothStep Indicator, a versatile tool designed for MetaTrader 5. If you’re looking to refine your trading strategies and make the most of your analysis, this is the indicator you want in your toolkit.
This generalized version builds on the original SmoothStep concept, which you can check out here. It leverages a unique property of the smooth step, allowing for further smoothing of data. The idea stems from Kenneth H. Perlin, a professor at New York University's Computer Science Department.
How It Works
- Order 0: This behaves like the built-in stochastic indicator scaled to 100, with the stochastic slowing set to 1.
- Order 1: This mimics the original smooth step indicator.
- Higher Orders: Using any higher order enhances filtering of signals, while still keeping values within expected ranges.
- Feel free to use it similarly to the stochastic indicator.
- It’s a great fit for any coding scenario where you need normalized values as inputs.
Incorporating the SmoothStep indicator into your trading routine can help you identify trends more effectively. Give it a shot and let me know how it works for you!
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