Power Shoes DSS Indicator

"Step Into Profits with Precision – Let the Market Dance to Your Tune!"

🔹 Overview

The Power Shoes DSS (Double Smoothed Stochastic) Indicator is a MetaTrader 4 (MT4) momentum oscillator designed to identify overbought/oversold conditions and trend reversals with enhanced smoothness. It combines:

✔ Double Smoothing (Reduces market noise)

✔ Stochastic Principles (Measures price relative to recent range)

✔ Clear Visual Signals (Arrows for trend changes)

Ideal for swing traders, day traders, and scalpers who need reliable momentum confirmation.

🔹 How It Works

The indicator applies two layers of smoothing:

First Smoothing:

Calculates a modified stochastic value based on the price range.

Second Smoothing:

Applies Smoothed Moving Average (SMMA) to the stochastic values for a cleaner signal.

Key Features:

Overbought/Oversold Zones (Default: 85/15)

Trend Arrows – Purple ▲ (Up) & Gold ▼ (Down)

Customizable Smoothing – Adjust sensitivity via SMMA_period & Stochastic_period.

🔹 Indicator Settings

🔸 Core Parameters

ParameterDescription

SMMA_periodSmoothing period for SMMA (Default: 10). Higher = smoother.

Stochastic_periodLookback period for stochastic calculation (Default: 5).

🔸 Display Options

DSS Line – Main smoothed stochastic line.

Up/Down Arrows – Show trend direction changes.

Overbought/Oversold Levels – Gold dashed lines at 15 & 85.

🔹 How to Use in Trading

1. Overbought/Oversold Strategy

Sell Signal: DSS crosses below 85 (Overbought).

Buy Signal: DSS crosses above 15 (Oversold).

2. Trend-Following Strategy

Buy: DSS line turns up + Purple ▲ Arrow appears.

Sell: DSS line turns down + Gold ▼ Arrow appears.

3. Divergence Trading

Bullish Divergence: Price makes lower lows, but DSS makes higher lows.

Bearish Divergence: Price makes higher highs, but DSS makes lower highs.

🔹 Trading Strategies

▶ Swing Trading

Enter long when DSS exits oversold (15) with an up arrow.

Enter short when DSS exits overbought (85) with a down arrow.

▶ Scalping

Use 5M/15M charts with a shorter Stochastic_period (e.g., 3) for faster signals.

▶ Confirmation Tool

Combine with moving averages or support/resistance levels for higher accuracy.

🔹 Alert System

No built-in alerts, but traders can manually set alerts on:

DSS crossing 15/85 levels.

Arrow appearances (requires custom scripting).

🔹 Developer & Source

Developer: R.KH 1001

Website: https://www.robomql.com

Final Words

The Power Shoes DSS Indicator is a versatile, smoothed momentum tool that helps traders filter noise and spot high-probability reversals. Whether you're a scalper or swing trader, this indicator provides clean, actionable signals.

🚀 Stride Confidently – Let Power Shoes Guide Your Trades! 🚀