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A momentum oscillator for MetaTrader 5 that runs a stochastic-style calculation on RSI and plots a 0 to 100 line. It shades overbought and oversold zones to help you look for mean reversion setups.
Get one message the moment it launches, with its price.
The Double Stochastic RSI indicator for MetaTrader 5 takes the Relative Strength Index, applies a stochastic-style calculation to it, and smooths the outcome into a single line that moves between 0 and 100. It is designed to show when momentum looks stretched in either direction, so you can watch for possible turning points.
The indicator starts from an RSI value and then measures where that value sits inside its own recent range, in the same way a stochastic oscillator does with price. The result is smoothed and drawn in a separate window below the chart. Because the calculation is applied to RSI rather than directly to price, the line tends to be steadier than a plain stochastic while still reacting to changes in momentum.
Two reference levels are drawn as dashed lines, by default near 20 and 80. When the line falls below the lower level, the area is shaded to mark an oversold condition. When it rises above the upper level, the area is shaded to mark an overbought condition. The shading makes it easy to see at a glance how long the market has stayed in an extreme zone.
The indicator reads standard price data, so it can be attached to any symbol and timeframe in MT5, including forex pairs, metals, indices and others your broker offers. Higher timeframes usually produce fewer and slower swings, while lower timeframes produce more crossings and more noise. Choose the combination that matches your own trading style and test it before relying on it.
These are mean reversion ideas. In a strong trend, price can remain overbought or oversold for a long time, so many traders add a trend filter, support and resistance, or a stop loss placed by their own risk rules.
The inputs below are available in the indicator properties. Default values are not listed here, so check the inputs tab when you attach it to a chart.
| Input | Purpose |
|---|---|
| RSI period | Number of bars used in the underlying RSI calculation |
| RSI applied price | Price point of each candle fed into the RSI, such as close |
| Stochastic period 1 | First lookback used in the stochastic step |
| Stochastic period 2 | Second lookback used in the stochastic step |
| Smoothing period | Amount of smoothing applied to the final line |
| Overbought level | Upper threshold where the shading begins |
| Oversold level | Lower threshold where the shading begins |
Trading carries risk and past results do not predict future ones. This indicator does not remove uncertainty, and signals can fail, particularly in trending markets. Test it on a demo account or in the Strategy Tester before using real funds, and only trade amounts you can afford to lose.
| Product type | Indicator |
|---|---|
| Platform | MetaTrader 5 |
| Strategy focus | Signals, Momentum |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Indicator (oscillator) |
| Strategy tags | Signals, Momentum |
| Markets | Any symbol available in your MT5 terminal |
| Timeframes | All standard MT5 timeframes |
| Trade style | Mean reversion from overbought and oversold zones |
| Display | Separate-window oscillator, 0 to 100 range |
| Requirements | MT5 desktop terminal; no external DLLs mentioned |
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No. This listing is built for MetaTrader 5 only. An MT4 terminal will not load it, so check that your broker account runs on MT5 before buying.
No. It is an indicator, so it only draws the oscillator and shaded zones on the chart. You decide when to enter or exit, or you can combine it with your own rules.
Yes. The overbought and oversold levels are inputs, along with the RSI period, the applied price, two stochastic periods and a smoothing period. Check the inputs window after attaching it to see the current default values.
It should run with any broker that offers MT5, on any symbol that shows price history in your terminal. Behaviour differs between instruments, so test it on the markets you actually trade.
Extract the download, copy the indicator file into the MQL5/Indicators folder via File, Open Data Folder in MT5, then restart the terminal or refresh the Navigator and drag the indicator onto a chart.
No indicator is. Run it on a demo account and in the Strategy Tester or visual review first. Trading carries risk and past results do not predict future ones.
Double Stochastic RSI Indicator for MT5
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