Stochastic Momentum Index (SMI)

2016년 9월 6일

Stochastic Momentum Index (SMI) or Stoch MTM is used to find oversold and overbought zones. It also helps to figureout whether to enter short trade or long trade.

Red Shade in the Top indicates that the stock is oversold and the Green shade in the bottom indicates overbought.

Strategy:

Enter Long once the Overbought Zone ended and there's a crossover below -35.
Exit Long once the oversold zone is ended and there's a crossover.

Enter Short once the oversold zone is ended and there's a crossover above 35.
Exit Short once the Overbought Zone ended and there's a crossover.

Backup: Always use with another indicator because there will be multiple up and down movement in one Trend.

2024년 8월 20일

릴리즈 노트

Stochastic Momentum Index (SMI) or Stoch MTM is used to find oversold and overbought zones. It also helps to figure out whether to enter short or long trade.

Red Shade in the Top indicates that the stock is overbought and the Green shade in the bottom indicates oversold.

This script has been updated to v2 as per the suggestions & comments.

2024년 9월 10일

릴리즈 노트

v2.1 - 10 Sep 2024

• Added smoothing settings
  
• Avoids fake crossovers