MTF DSS (Double Smoothed Stochastic).

Overview

A smoother Stochastic-style reading.

Double Smoothed Stochastic (DSS), attributed to William Blau, is a momentum oscillator on a 0–100 scale. Like a standard Stochastic, it compares the close with a recent high-to-low range. Its extra smoothing aims to reduce short-term jaggedness while retaining the oscillator’s basic interpretation.

Method

Smooth both parts of the range comparison.

The script applies two exponential smoothing stages to the distance from the close to the period’s lowest low and to the full highest-high to lowest-low range. It divides the smoothed distance by the smoothed range and scales the result to 0–100. The smoothing can make the line easier to read, but can also delay a change.

Using it

Compare timeframes and set alerts.

The multi-timeframe view brings selected DSS readings together so you can compare momentum over different chart horizons. High or low oscillator readings mark relative position within the lookback range; they do not mean a reversal is certain. The script offers configurable alert criteria through its settings and TradingView’s Create Alert dialog.

Before acting on a higher-timeframe reading, check whether that timeframe’s candle is still open.