## Stochastic Momentum Index indicator

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### Stochastic Momentum Index indicator

viewtopic.php?f=27&t=1870#p3972

SMI.lua

MTF MCP SMI Heat Map with Alert.lua

MTF MCP SMI Heat Map with Alert Carimwell.lua

Based on the request.
viewtopic.php?f=27&t=65054&start=10

The indicator was revised and updated
Alexander.Gettinger
FXCodeBase: Confirmed User

Posts: 3507
Joined: Wed Mar 31, 2010 9:40 pm
Location: Russia, Omsk

### Re: SMI indicator

Hello Alexander

Thank you for the SMI indicator. When you get time could you make the following improvements?

Thanks and Regards,

Richard
Attachments
RJH501

Posts: 84
Joined: Mon May 30, 2011 8:38 pm

### Re: SMI indicator

Hello Alexander and Members;

A short description of the SMI for anyone interested:

"Stochastic Momentum Index"

SMI was created by William Blau in January 1993 issue of Technical Analysis of Stocks & Commodities. The SMI demonstrates where the close is relative to the middle of the last high/low range, in comparison to the close relative to the recent low/high with the Stochastic Oscillator, which resembles the Stochastic Momentum Index.
This oscillator shifts between 100 and 100 and can be a bit less inconstant than an equal period Stochastic Oscillator. The oscillator consists of 2 lines: the moving average of the SMI (red) and the SMI (blue). The SMI will be negative if the close is less than the middle point of the range. The SMI will be positive if the close is greater than the middle point of the range.
The SMI interpretation is in fact the same as that of the Stochastic Oscillator. The most ordinary way of using it is to trade from is to sell when the SMI rises above +40 and then returns to the point under that level and to purchase at the moment when the SMI decreases under -40 and then shifts back above it. Another trading sign is to purchase when the SMI shifts above the moving average, and sell when the SMI decreases below the moving average.
Usually before basing any trades on strict oversold or overbought levels, it is better to qualify the trendiness of the market using an indicator, for example, R-Squared. If indicators provide a non-trending market trades based on strict oversold or overbought, then levels should provide the most effective results.

Regards,

Richard
RJH501

Posts: 84
Joined: Mon May 30, 2011 8:38 pm

### Re: SMI indicator

Hello Alexander,

I have attached a Strategy outline for use with the SMI Indicator. When you get time would create this strategy using the SMI Indicator?

Thanks and Regards,

Richard

.pdf attachment outlines the SMI improvements and strategy
Attachments
SMI IMPROVEMENTS.pdf
RJH501

Posts: 84
Joined: Mon May 30, 2011 8:38 pm

### Re: SMI indicator

Hello,

The Marketscope application has been upgraded by FXCM this weekend. And a lot of users of the SMI.lua file mentionned in this topic, are embarrassed.
I mean after adding the SMI indicator to the marketscope, there isn't any signal now ... (Signal: H/A)
I think the SMI script need to be revised in order to be compatible again.

Do you have the same problem since the upgrade of yesterday ?

Best regards,

Alexey, for the members of the french community optionbinaire.net.
Alexey

Posts: 4
Joined: Sun Nov 20, 2011 4:51 pm

### Re: SMI indicator

Now I see what is missing.
Signal lines.
and I'll take a look tomorrow.

Apprentice
FXCodeBase: Confirmed User

Posts: 20362
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

### Re: SMI indicator

Signal Line Problem Fixed.

Apprentice
FXCodeBase: Confirmed User

Posts: 20362
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

### Re: SMI indicator

Thank you very much for the revision.
It runs again now !
Bye.
Alexey

Posts: 4
Joined: Sun Nov 20, 2011 4:51 pm

### Re: SMI indicator

Hi Apprentice,

Could you please create an alert with this indicator ? Only an alert when both lines cross ?
wonder68

Posts: 33
Joined: Tue Jul 19, 2011 12:25 pm

### Re: SMI indicator

Hello members !

Do you have news for this alert (strategy) about the SMI ??

Thanks
nicolovitch

Posts: 6
Joined: Sat Jan 14, 2012 11:26 am

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