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KR_SMI_v2: based on Stochastic Momentum Index (SMI) for ToS 5 *
if you use a Momentum study to identify swings, or start/end of a price move, you may like this one.
in KR_SMI, i try to improve the visulaization and signal of ToS's Stochastic Momentum Index

1. i didn't like that it uses double EMA, so i changed that into a single-time EMA.

2. K Period, d Period .. confusing.. in reality SMI tries to identify the recent movement compared to a longer-term price shift. so i changed that into Look_Back_Period and Length

3. Signal is generated thru a crossing with a slower/smoothed EMA of SMI line. in reality, we can see the change of SMI line trend using colors and get an earlier signal for swings or price move shifting direction (Green = momentum up, red = momentum down, Yellow = possible swing detected)

4. crossing the zero line means a lot (momentum reversing). this is ignored in original indicator. so we added a zero line. Overbought/oversold are at +/-50% by default - but you can change that

screenshot shows how this compares vs the classic SMI in ToS

Best used together with a trend following indicator for a confirmed entry/exit signals.

just realized all the indicators i posted are optimized for dark chart background color. they will look ugly on light-color charts. sorry for that.
beware of a bug in ToS, when you use Inertia or Hull smoothing with AddChartLabel, and you try to enter a lower smoothing value in study settings, the indicator calc behaves erratically. if that happens, remove/re-add the study to your chart. i just found out about that and will report it.


as usual, please do not share outside BMT.
All feedback welcome,
RedK


Category The Elite Circle 
 
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Details: KR_SMI_v2: based on Stochastic Momentum Index (SMI) for ToS
Category: The Elite Circle 


August 17th, 2012
Size: 1.75 KB
Downloaded: 302 times

Keywords: momentum redk smi stochastic thinkorswim tos
SMI4 5 *
I enhanced Cory's SMI2 and added a price bar coloring option, as well as background coloring option and the option to draw a vertical line on the price panel when trend changes. You can also put this indicator in panel 1 and turn off all the plots (Set all plots & alert line to TRANSPARENT) and just using the background colors to color the background of the price panel, if you desire. I altered the default settings and some of the plots so that it now looks more like the Eco2 (Ergodic) indicator, and is (I think) a little easier to read than Eco2.

March 23, 2010: Update

REPAINTING:
Fixed a "repainting" problem that other members discovered. Cleaned up the code. Changed the text that read "very over bought / very over sold" to "chop zone upper" & "chop zone lower". Removed the ChopFilter function, as it added nothing to help in keeping you out of chop.

ADDED TEXT ALERTS:
"POSSIBLE CHOP" when SMI dot enters the +20 / -20 zone
"LONG BREAKOUT" when SMI dot exits above the +20 zone
"SHORT BREAKOUT" when SMI dot exits below the -20 zone

COMPATIBILITY:
NinjaTrader 6.5: YES
NinjaTrader 7.0: YES - ZTrade101


Category NinjaTrader 6.5 Indicators  NinjaTrader 7 Indicators 
 
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Details: SMI4
Category: NinjaTrader 6.5 Indicators  NinjaTrader 7 Indicators 


March 23rd, 2010
Size: 10.70 KB
Downloaded: 2168 times

Keywords: stochastic wizard momentum smi smi4
SMI2 with no repaint option 5 *
Requested by VIP user.

Same SMI2 but this one won't repaint if you use a plot other than Line. If you use line, it will repaint 1 bar back to connect plots (like normal). But if you use something else, like a dot, it won't repaint.

Mike

COMPATIBILITY:
NinjaTrader 6.5: YES
NinjaTrader 7.0: YES (tested by sam028)


Category NinjaTrader 6.5 Indicators  NinjaTrader 7 Indicators 
 
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Details: SMI2 with no repaint option
Category: NinjaTrader 6.5 Indicators  NinjaTrader 7 Indicators 


September 29th, 2009
Size: 8.28 KB
Downloaded: 1364 times

Keywords: smi ninjatrader bmt stochastic
SMI2 with 80 line and diff histogram 5 *
I add 80 line and histogram of diff between SMI and SMIEMA. Note: In order to see the histogram a bit more clear I multiple it by 2.

COMPATIBILITY:
NinjaTrader 6.5: YES
NinjaTrader 7.0: NOT TESTED [feedback]


Category NinjaTrader 6.5 Indicators 
 
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Details: SMI2 with 80 line and diff histogram
Category: NinjaTrader 6.5 Indicators 


August 8th, 2009
Size: 8.38 KB
Downloaded: 397 times

Keywords: cory histogram ninjatrader smi smiema
SMI2
This is a modified SMI inidicator with 1 multiple SMI line, arrows, alerts, etc.

COMPATIBILITY:
NinjaTrader 6.5: YES
NinjaTrader 7.0: NOT TESTED [feedback]


Category NinjaTrader 6.5 Indicators 
 
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Details: SMI2
Category: NinjaTrader 6.5 Indicators 


June 13th, 2009
Size: 8.14 KB
Downloaded: 944 times

Keywords: ninjatrader smi todd
 


 
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