The DSS Bressert indicator for MT5 is composed of Double Smoothed Stochastic and DSS values and it works in a similar fashion to the Stochastic oscillator.
DSS Bressert delivers the best trading results when traded in agreement with the overall market trend.
How does the 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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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 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 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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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