The Double Stochastic RSI FL is a MetaTrader 5 indicator developed by renowned technical indicator author Mladen. It adapts the classic Stochastic oscillator by applying a double-stochastic calculation directly to the RSI (Relative Strength Index), rather than to price.
Unlike standard stochastic indicators, it uses floating levels—dynamically calculated thresholds—to identify overbought and oversold conditions, improving adaptability across varying market volatility.
When the RSI period is set to ≤1, the indicator reverts to a standard double stochastic. Optional built-in EMA smoothing is available for signal refinement. The indicator supports all 22 standard price types (e.g., Close, Open, Median, Typical, Weighted).
Note: This is not the same as a doubly smoothed Stochastic—it is a distinct hybrid that applies stochastic logic to RSI values.
Download Double Stochastic RSI FL Forex Indicator
Other MT5 Trading Indicators
FAQ
What does ‘FL’ stand for in Double Stochastic RSI FL?
‘FL’ stands for ‘Floating Levels’ — referring to dynamically adjusted overbought/oversold thresholds instead of fixed 80/20 lines.
How is this different from a regular Stochastic or RSI?
It combines both: first calculates RSI, then applies a double-stochastic transformation to RSI values — not price — enhancing sensitivity to momentum shifts.
Can I use it on timeframes other than H1 or D1?
Yes — it’s fully configurable and works on all MT5 timeframes; optimal settings may vary based on volatility and instrument.
