Mesa Stochastic
A standard stochastic normalises price against its own highest/lowest over a lookback. That works cleanly on a genuinely cyclic instrument, but on anything carrying a real trend the lookback range keeps stretching in the trend's direction, so the oscillator spends long stretches pinned near 0 or 100 instead of cycling through its range - a problem Ehlers calls spectral dilation, because the trend component distorts what should be a pure cycle measurement. The fix Ehlers publishes is to normalise a roofed version of price rather than price itself. The roofing stage is the same two-pole highpass followed by a two-pole SuperSmoother used in this catalogue's standalone Roofing Filter indicator: the highpass removes everything slower than its cutoff (the trend), and the SuperSmoother removes everything faster than its own cutoff (tick noise), leaving a band-limited, roughly zero-mean signal with the trend component already gone before the highest/lowest normalisation ever runs. A final SuperSmoother pass on the raw stochastic ratio removes the stair-step jitter a %K calculation always carries, since the highest/lowest can only change discretely as bars enter and leave the window. Notes and limitations - The roofing stage, the highest/lowest lookback, and the final SuperSmoother pass are all recursive or window-based, so the first several dozen bars after a fresh attach are a warm-up stretch seeded at a flat 50, not a true reading. - The final SuperSmoother stage uses a fixed 10-bar cutoff - Ehlers' published default for this specific stage - separate from InpLowPassPeriod, which only controls the earlier roofing stage. - Because every stage is recursive or a fixed-window lookback with no lookahead, it never repaints: every value shown for a closed bar is final. - Roofing the input reduces spectral dilation, it does not eliminate the underlying problem that any highest/lowest normalisation is comparing against a finite, backward-looking window - a sudden volatility regime change can still distort the reading until enough new bars have entered that window.
Indicator · MT4 · v1.0 · Free
About Mesa Stochastic
Mesa Stochastic is an indicator for MetaTrader 4. It can alert you with a pop-up, sound, email or push message. It has 4 settings, such as High pass period, Low pass period and Stoch period. MQL source code included.
Files in the download: MesaStochastic.mq4, MesaStochastic.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| High pass period | 48 | Roofing filter highpass cutoff (removes trend), in bars |
| Low pass period | 10 | Roofing filter SuperSmoother cutoff (removes noise), in bars |
| Stoch period | 20 | Lookback for the highest/lowest normalisation |
| Alerts | true | Alert once per closed bar on a 20/80 threshold cross |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Stochastic · Oscillator · Trend · Alerts · MT4 Indicator · MQL4 Source Code