CitiFX Pro News - Double Smoothed Stochastics (DS1)

 

CitiFX Pro News - How-to Guides

Double Smoothed Stochastics (DS1)
04.01.2012

The Double Smoothed Stochastics oscillator is one of the most widely used technical analysis tools. The DS1 study is based on the current closing price in relation to the recent trading range. Interpreting the Double Smoothed Stochastics indicator is comparable with that of the normal stochastic – values above 70 or 80 should be regarded as overbought, whereas values below 30 as oversold.

Applying the DS1 indicator is straightforward. Go to:

Trading > Charts > > Oscillators > Double Smoothed Stochastics

This brings up a menu (see above), which allows you to adjust the calculation of the indicator as well as its appearance. Once you have created the custom indicator, click ‘OK’.

As you can see below, we have applied the DS1 indicator to our EURUSD chart in a separate pane. If you wish to make adjustments, or want to delete it all together, simply click on the indicator name and select from the menu.

Adjusting the chart is just as easy. You can change the chart type and time period using the drop down menus that run along the top navigation bar. There also additional chart settings that can be accessed by right clicking on the chart and selecting ‘Settings’. From here, you can adjust pretty much anything from the text font right down to the background colour and grid style!

Once you have created your bespoke study, you may wish to save or export it for later reference. Right-click on the chart, go Chart >: 

  1. This will save the study as a StdSP file which can be re-opened in the Citifx Pro Platform software.
  2. This allows you to save the study as a jpeg file.
  3. If you want to save the DS1 study directly to your clipboard.

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