OPEN-SOURCE SCRIPT
Stochastic Momentum Index _ UCSgears
The Stochastic Momentum Index (SMI) was introduced by William Blau in 1993 as a way to clarify the traditional stochastic oscillator. SMI helps you see where the current close has taken place relative to the midpoint of the recent high to low range is based on price change in relation to the range of the price. This is a range based indicator, when used right. It can help momentum changes.
For those looking for help understanding this -
wiki.timetotrade.eu/Stochastic_Momentum_Index
tradingstrategyideas.com/entries/stochastic-momentum-index/
tlc.thinkorswim.com/center/charting/studies/studies-library/R-S/StochasticMomentumIndex.html
sierrachart.com/supportboard/attachment.php?attachmentid=4714&d=1277899234
For those looking for help understanding this -
wiki.timetotrade.eu/Stochastic_Momentum_Index
tradingstrategyideas.com/entries/stochastic-momentum-index/
tlc.thinkorswim.com/center/charting/studies/studies-library/R-S/StochasticMomentumIndex.html
sierrachart.com/supportboard/attachment.php?attachmentid=4714&d=1277899234
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Uday C Santhakumar
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Uday C Santhakumar
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.