Is there anybody on this board able to translate the SMI :
Stochastic Momentum Indicator by William Blau. The result is an oscillator that ranges between +/- 100 and is a bit less erratic than an equal period Stochastic Oscillator. While similar to the Stochastic Oscillator, the SMI displays where the close is relative to the midpoint of the recent high/low range, as compared to the close relative to the recent high/low with the Stochastic Oscillator. This results is an oscillator that ranges between -100 and +100 and can be a bit less erratic than an equal period Stochastic Oscillator.
An example formula (see Stochastic Momentum Index) illustrates the calculation of the Stochastic Momentum Index. When the close is greater than the midpoint of the range, the SMI is positive. When the close is less than the midpoint of the range, it is negative. The interpretation of the SMI is virtually identical to the Stochastic Oscillator.
Stochastic Momentum Indicator
100 * ( Mov( Mov(C - (.5 * ( HHV(H,13) + LLV(L,13))),25,E),2,E)/
(.5*Mov(Mov( HHV(H,13) - LLV(L,13),25,E),2,E)))
Many thanks for your attention,
Happy trading
Cheers
Angel
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