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Unbounded Stochastic Momentum Index for Amibroker (AFL)
Rating:
5 / 5 (Votes 2)
Tags:
amibroker, oscillator
the Unbounded SMI values are allowed to go outside the -100 to 100 boundaries imposed by the standard SMI indicator.
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Indicator / Formula
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Periods=Param("Periods",15,2,100);
Smooth1=Param("Smooth1",3,1,100);
Smooth2=Param("Smooth2",3,1,100);
HH=HHV(Ref(H,-1),Periods);
LL=LLV(Ref(L,-1),Periods);
StoMom=100*EMA(EMA(C-0.5*(HH+LL),Smooth1),Smooth2)/
(0.5*EMA(EMA(HH-LL,Smooth1),Smooth2));
Plot(StoMom,_DEFAULT_NAME(),ParamColor("Color",ColorCycle));
PlotGrid(80,colorRed);
PlotGrid(0,colorLightGrey);
PlotGrid(-80,colorLightGrey);1 comments
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Very interesting indicator to combine with other indicator to confirm the good entry