Stochastic Momemtum Index - a true strength indix tsi with a moving average signal. This uses the built in with modifications per Anne-Marie Baiynds recommendations - she uses a SIMPLE MOVING AVERAGE for the signal (signal length at 4x the short length seems to work best to reflect actual price action support or resistance) Note: Default settings in this code have been updated to her most recent recommendations that I have seen. video is entitled "The Most Reliable Technical Indicator I Have Ever Used"
Note: I have not discussed this with Ms . Baiynd this is my interpretation of the vids I have seen.
Anne-Marie Baiynd also in talks / videos refers to the use of short / long of 4/20 and 6/40 and have combined both of them here This overlays both of them with their respective SMAs- a 4/20 lengths and a 6/40 lengths in darker colors and smallest linewidth. this gives a perspective on slightly higher time frame action.
USAGE: Generally above and below the black dashed zero line is long or short KEYS: -Plot position relative to zero black, red overbought, green oversold and the gray lines at .25 -.25 Indicator action often more significant out side of the more "neutral" +.25/-.25 area and near or above/below the red/green dashed lines. -Steepness of slopes Slopes of smi plots relate directly to price action where steeper is more momentum. - -SMI blue relation to its simple moving average orange and the SMI longer dark blue with moving average purple. MAJOR FEATURE - The average acts as support or resistance to the SMI and the price unless breaking out. Price is often pausing or reversing iin finding primary/secondary support or resistance as well at those times. You Can See and anticipate Where Support or Resistance may be Encountered. (much unlike most indicators)
My standard caveat -use at your own risk. Like anyone else I do not know what the next bar/candle is going to do and I place all of my trades with a management plan in place for the worst case scenario. That said enjoy your charting and trading. This was coded starting with the built-in indicator "SMI Ergontic Oscilator / Indicator". You do this by within the Pine Editor select "New" tab and choose the indicator that you want the code for. This populates the editor with the code for the built in indicator and you can modify it to suit your purposes and save it / publish it and etc. Thanks for following this and Keep Smiling!
진정한 TradingView 정신에 따라, 이 스크립트의 저자는 트레이더들이 이해하고 검증할 수 있도록 오픈 소스로 공개했습니다. 저자에게 박수를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 출판물에서 이 코드를 재사용하는 것은 하우스 룰에 의해 관리됩니다. 님은 즐겨찾기로 이 스크립트를 차트에서 쓸 수 있습니다.