The DSS Bressert indicator for MetaTrader4 was designed by William Blau as an alternative version of a stochastic oscillator and got initially promoted by Dr. George Lane in the 1950’s and was further popularized by Walter Bressert.
The Double Smoothed Stochastic or DSS Bressert indicator uses two different periods Exponential Moving Averages (EMAs) to a standard Stochastic %K. The DSS_Bressert can be employed as a cycle indicator.
In most cases an initial cycle analysis is carried out. The DSS Bressert is then applied with half the cycle period of the dominant cycle. The default periods of 8 and 13 are used for the DSS_Bressert indicator.
The DSS_Bressert indicator fluctuates between 0 and 100, just like the standard Stochastic Oscillator. This implies that the same way the Stochastic is being read can also be applied to the DSS_Bressert indicator, although the curve on the DSS_Bressert indicator is much smoother than the Stochastic.
The region above 80 indicates an overbought zone, while the area below 20 indicates an oversold territory. A buy signal is given when the DSS_Bressert indicator is below the 20 region and then crosses back above the 20 level. In the same light, a sell signal is given if the DSS_Bressert indicator is above the 80 level and then crosses back below the 80 level.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (EMA_period, Stochastic_period), Colors, width & Style.
Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: momentum oscillator