Stochastic Momentum Blau SM Indicator
Info
The Stochastic Momentum Blau SM Indicator is a Indicator for MetaTrader 5 that stochastic momentum (sm) indicator by william blauthe q-period stochastic momentum is defined as the distance of the current close price from the midpoint of the q bars. The value of Stochastic Momentum indicates the distance between the midpoint of the Q-period price range.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Stochastic Momentum Blau SM Indicator
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
Stochastic Momentum (SM) Indicator by William BlauThe Q-period Stochastic Momentum is defined as the distance of the current close price from the midpoint of the Q bars.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Multi-Timeframe RSI Dashboard MT5 - Professional RSI Momentum Analysis - another powerful indicator for MetaTrader 5 traders.
Stochastic Momentum (SM) Indicator by William BlauAlso recommended: Quantora Multi-Timeframe MACD Dashboard MT5 - Professional Momentum and Trend Analysis - similar indicator with strong performance on MetaTrader 5.
The Q-period Stochastic Momentum is defined as the distance of the current close price from the midpoint of the Q bars.
The value of Stochastic Momentum indicates the distance between the midpoint of the Q-period price range. The sign of Stochastic Momentum indicates the price position relative to the midpoint of the price range: positive values indicate the price is higher than the midpoint, and negative values indicate the price is lower than the midpoint.
Installation:
williamblau.mqh must be placed in the terminal data folder\mql5\include\
blau_sm.mq5 must be placed in the terminal data folder\mql5\indicators\
Calculation:
The formula for calculating the Q-period Stochastic Momentum is as follows:
SM(Price, Q) = Price - 1/2 * [LL(Q) + HH(Q)]
Where:
Price - the close price
Q - the number of bars used in the calculation of Stochastic Momentum
LL(Q) - the lowest low price over the last Q bars
HH(Q) - the highest high price over the last Q bars
1/2 * [LL(Q) + HH(Q)] - the midpoint of the Q-period price range.
The smoothed Q-period Stochastic Momentum is calculated using the following formula:
Smoothed SM = EMA(EMA(EMA(SM(Price, Q), R), S), U)
Where:
SM(Price, Q) - the Q-period Stochastic Momentum
EMA(SM(Price, Q), R) - the first smoothing, applied to the Q-period Stochastic Momentum with a period of R
EMA(EMA(..., R), S) - the second smoothing, applied to the result of the first smoothing with a period of S
EMA(EMA(EMA(SM(Q), R), S), U) - the third smoothing, applied to the result of the second smoothing with a period of U.
Input Parameters:
Q - the period for Stochastic Momentum (default: 5)
R - the period for the first EMA smoothing applied to Stochastic Momentum (default: 20)
S - the period for the second EMA smoothing applied to the result of the first smoothing (default: 5)
U - the period for the third EMA smoothing applied to the result of the second smoothing (default: 3)
AppliedPrice - the price to which the indicator is applied (default: Close Price).
Notes:
Q > 0
R > 0, S > 0, U > 0. If R, S, or U equals 1, smoothing is not applied.
Minimum Bars Required = (Q - 1 + R + S + U - 3 + 1).
You may also like: stochastic multi-timeframe indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#include <williamblau.mqh> // include file (terminal_data_folder\mql5\include)
#property indicator_separate_window // indicator in a separate window
#property indicator_buffers 7 // number of buffers used
#property indicator_plots 1 // number of plots
#property indicator_label1 "sm" // label of plot #0
#property indicator_type1 draw_line // draw as a line
#property indicator_color1 blue // line color.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.