The Double Smoothed Stochastic indicator was created by William Blau. The DSS ranges from 0 to 100, like the standard Stochastic Oscillator. The same rules of interpretation apply to Stochastics can be applied to DSS, although the DSS offers a much smoother curve than the raw Stochastic.
How it works: It applies Exponential Moving Averages (EMAs) of two different periods to a standard Stochastic %K. The components that construct the Stochastic Oscillator are first smoothed with the two EMAs. Then, the smoothed components are plugged into the standard Stochastic formula to calculate the indicator.
Calculation: EMA of the ( EMA of the (Close – Lowest Low for the specified period) ) Divided by EMA of the ( EMA of the (Highest High for the specified period – Lowest Low for the specified period) ) X 100
How to add alerts: Check off each piece of criteria you want for the alerts, then select Okay. Then go to 'Create Alert' and set the condition to 'MTF DSS', select create.