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Indicator Parameter? Stochastic Momentum Index
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Created: by EdenR Attachments:0

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Indicator Parameter? Stochastic Momentum Index

 
Trading Apprentice
Australia
 
Futures Experience: Intermediate
Platform: Metastock
Favorite Futures: Stocks
 
Posts: 2 since Sep 2014
Thanks: 0 given, 0 received

Indicator Parameter? Stochastic Momentum Index

Hi all,

Here I go with my very first question/post.

Lately I have been incorporating the Stochastic Momentum Index (SMI) into my trading. However something is confusing me about the indicator.

In short, I have been reading a lot of articles on the web about the SMI that refer to the parameters of the indicator in a much different way to how the SMI parameters seem to be laid out in Metastock (my main platform). I find it is almost as if people are talking about a different indicator to what I am seeing.

For example, I recently came across an article by a trader named Julie Wade regarding the Stochastic Momentum Index. The article draws on the ideas of Anne Marie Baiynd. In her article, Ms Wade mentions using a combination of "4-10 fast SMI overlaid on top of a slower 10-40 SMI".

Sounds easy enough, however, within Metastock (and a few other platforms I have looked at), the SMI parameters are generally set out as follows:

%K Parameters
- Time Periods: X
- Smoothing Periods: X
- Double Smooth Periods: X


%D Parameters
- Time Periods: X
- Method: (i.e. simple, exponential etc)

As such, how would I go about creating '4-10' and/or '10-40' SMI. I am not sure what they even mean.

I was hoping someone might be able to shed some light on how to set up both a "4-10 fast SMI" and a "10-40 slow SMI". Could Ms Wade be talking about a slightly different indicator?

So far I have been unable to contact Ms Wade, so I thought this great forum might be able to help. I apologize if this is an incredibly obvious question.


A big thank you in advance.

EdenR

 
 
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Trading Apprentice
Houston
 
Futures Experience: None
Platform: MetaTrader
Favorite Futures: Crude CL
 
Posts: 1 since Feb 2016
Thanks: 0 given, 0 received

Indicator Parameter? Stochastic Momentum Index


EdenR,

Did you ever get a response to your question? I also am interested in the SMI, I am using thinkorswim and it only has a simpler version of the SMI without as many parameters available to change compared to MetaStock. This was referenced by Anne Marie Baiynd on a YouTube video.

I appreciate any information you may have discovered.

Thanks,

 
 
Elite Member
Snellville, GA
 
Futures Experience: Beginner
Platform: TOS, NinjaTrader
Broker/Data: TDAmeritrade
Favorite Futures: Lev ETFs, Equities
 
JellySkater's Avatar
 
Posts: 20 since Nov 2013
Thanks: 16 given, 38 received

Stochastic Momentum Index, Anne Marie Baiynd

I cobbled this thinkscript based on watching Anne-Marie Baiynd's youtube on Stockastic Momentum Index.
Use at your own risk.

declare lower;

input over_bought = 70;
input over_sold = -70;
input percentDLength = 6;
input percentKLength = 15;

def min_low = lowest(low, percentKLength);
def max_high = highest(high, percentKLength);
def rel_diff = close - (max_high + min_low)/2;
def diff = max_high - min_low;

def avgrel = expaverage(expaverage(rel_diff, percentDLength), percentDLength);
def avgdiff = expaverage(expaverage(diff, percentDLength), percentDLength);

plot SMI = if avgdiff != 0 then avgrel / (avgdiff / 2) * 100 else 0;
smi.setDefaultColor(getColor(1));

plot AvgSMI = expaverage(smi, percentDLength);
avgsmi.setDefaultColor(getcolor(5));

plot overbought = over_bought;
overbought.setDefaultColor(getcolor(5));

plot oversold = over_sold;
oversold.setDefaultColor(getcolor(5));

plot zero = 0;

I have been using this SMI for several months and like it alot. I wish it could be made available for NinjaTrader8.

The following user says Thank You to JellySkater for this post:
 
 
Trading Apprentice
Los Angeles CA
 
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: ES, NQ, TF
 
Posts: 5 since Nov 2016
Thanks: 2 given, 3 received

SMI on TOS

Hello All:

I have been using SMI for some time on the TOS platform and took some notes from Steve Miller on TastyTrade. He suggested setting the overbought at 40 and the oversold at -40.

Percent d length is set to 3
Percent k length is set to 5

so far, no complaints....

Hope this helps a little.

Best,

sprite8man

 
 
Elite Member
Zurich
 
Futures Experience: Beginner
Platform: TOS
Favorite Futures: Options
 
Posts: 2 since Jan 2018
Thanks: 0 given, 0 received

Stochastic momentum index scanner

Hi

Can you also build a scanner ?



JellySkater View Post
I cobbled this thinkscript based on watching Anne-Marie Baiynd's youtube on Stockastic Momentum Index.
Use at your own risk.

declare lower;

input over_bought = 70;
input over_sold = -70;
input percentDLength = 6;
input percentKLength = 15;

def min_low = lowest(low, percentKLength);
def max_high = highest(high, percentKLength);
def rel_diff = close - (max_high + min_low)/2;
def diff = max_high - min_low;

def avgrel = expaverage(expaverage(rel_diff, percentDLength), percentDLength);
def avgdiff = expaverage(expaverage(diff, percentDLength), percentDLength);

plot SMI = if avgdiff != 0 then avgrel / (avgdiff / 2) * 100 else 0;
smi.setDefaultColor(getColor(1));

plot AvgSMI = expaverage(smi, percentDLength);
avgsmi.setDefaultColor(getcolor(5));

plot overbought = over_bought;
overbought.setDefaultColor(getcolor(5));

plot oversold = over_sold;
oversold.setDefaultColor(getcolor(5));

plot zero = 0;

I have been using this SMI for several months and like it alot. I wish it could be made available for NinjaTrader8.


 
 
Trading Apprentice
Spring Hill Kansas
 
Futures Experience: Beginner
Platform: thinkorswim
Favorite Futures: es
 
Posts: 1 since Jan 2018
Thanks: 0 given, 0 received

SMI Indicator with signals and alerts

AREK, you asked if the SMI Indicator could be scanned.

Here is a the link for a shared SMI with chart alerts. --- Sorry not cleared for posting links.
It can be used on any time frame

A scan can be built by going to the "SCAN" tab and "Add study filter"

Set the BearP or BullP to true within 1 or more bars

The Chart Alerts are commented out at the bottom of the Script.
Take the # off each line and the alerts will work
Change the OBOT / OSLD to change the threshold for the signal

Have fun---

If you want to do a copy / paste to load the script ....

# SMI Indiator with Signals and Alerts

declare lower;

input OBOT = 60.0;
input OSLD = -60.0;
input percentDLength = 6;
input percentKLength = 15;

def min_low = lowest(low, percentKLength);
def max_high = highest(high, percentKLength);
def rel_diff = close - (max_high + min_low)/2;
def diff = max_high - min_low;

def avgrel = expaverage(expaverage(rel_diff, percentDLength), percentDLength);
def avgdiff = expaverage(expaverage(diff, percentDLength), percentDLength);

plot SMI = if avgdiff != 0 then avgrel / (avgdiff / 2) * 100 else 0;
smi.setDefaultColor(getColor(1));

plot AvgSMI = expaverage(smi, percentDLength);
avgsmi.setDefaultColor(getcolor(5));

plot overbought = OBOT;
overbought.setDefaultColor(getcolor(5));

plot NeutralZoneTop = 15;
NeutralZoneTop.setDefaultColor(getcolor(3));

plot NeutralZoneBot = -15;
NeutralZoneBot.setDefaultColor(getcolor(3));

plot oversold = OSLD;
oversold.setDefaultColor(getcolor(5));

#Plot Zero = 0;
#Zero.setDefaultColor(getcolor(1));

def Bear = SMI[1] >= OBOT and SMI[1] == Highest(SMI[1] , 10) and SMI < SMI[1] ;
def Bull = SMI[1] <+ OSLD and SMI[1] == Lowest(SMI[1] , 10) and SMI > SMI[1] ;

plot BearP = if Bear then smi else if Bear then smi else Double.NaN;
BearP.AssignValueColor(if Bear then Color.Red else Color.CURRENT);
BearP.SetLineWeight(5);
BearP.SetStyle(Curve.POINTS);

plot BullP = if Bull then SMI else Double.NaN;
BullP.AssignValueColor(if Bull then Color.Green else Color.CURRENT);
BullP.SetLineWeight(5);
BullP.SetStyle(Curve.POINTS);

#input bearSound = Sound.Ding;
#input bullSound = Sound.Ding;
#Alert(Bear, "Bearish Cross", Alert.BAR, bearSound);
#Alert(Bull, "Bullish Cross", Alert.BAR, bullSound);


Last edited by 38ksfarmer40; March 27th, 2018 at 05:22 PM. Reason: Added info on time frames

 



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