The DSS Bressert indicator for MT5 is composed of Double Smoothed Stochastic and DSS values and it works similarly to the Stochastic oscillator.
DSS Bressert delivers the best trading results when traded in agreement with the overall market trend.
How does the indicator function?
- DSS Bressert values of 80 and above indicate an overbought market state.
- DSS Bressert values of 20 and below indicate an oversold market state.
The following indicator inputs and variables can be modified: EMA period, Stochastic period, horizontal shift.
Before implementing the DSS Bressert indicator in real trading, familiarize yourself with its workings and conduct thorough testing on a demo account.
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dssbressert.mq5 Indicator (MT5)
Chart Example
The picture below shows how the DSS Bressert indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The DSS Bressert Indicator?
Find a simple trading example below:
Buy Signal
- Buy market condition: it is crucial for the currency pair to demonstrate a clear uptrend.
- A buy signal is given when the DSS Bressert indicator turns back above 20 from below.
- Open a buy trade and place a stop loss below technical support.
- Exit the buy position when the DSS Bressert indicator reaches the 80 overbought market state.
Sell Signal
- Sell market condition: it is crucial for the currency pair to demonstrate a clear downtrend.
- A sell signal is given when the DSS Bressert indicator turns back below 80 from above.
- Open a sell trade and place a stop loss above technical resistance.
- Exit the sell position when the DSS Bressert indicator reaches the 20 oversold market state.
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dssbressert.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the dssbressert.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration