Stochastic Momentum Index Blau SM I
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Stochastic Momentum Index Blau SM I
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.
Description & Settings
Stochastic Momentum Index (SMI) by William Blau is based on Indicator (see ).
Stochatic Momentum Index is normalized (to half of q-period price range) and mapped into the [–100,+100] interval. The values of SMI is interpreted as overbought (positive) and oversold (negative) states of the market.
WilliamBlau.mqh must be placed in
terminal_data_folder
\MQL5\Include\
Blau_SMI.mq5 must be placed in
terminal_data_folder
\MQL5\Indicators\
Calculation:
Stochastic Momentum Index is calculated by formula:
where:
price - close price;
LL(q) - minimal price (q bars);
HH(q) - maximal price (q bars);
sm(price,q)=price-1/2*[LL(q)+HH(q)] - q-period Stochastic Momentum;
SM(price,q,r,s,u) - triple smoothed q-period Stochastic Momentum;
HH(q)-LL(q) - q-period price range;
1/2*[LL(q)+HH(q)] - midpoint of q-period price range;
1/2*[HH(q)-LL(q)] - half of q-period price range;
EMA(...,r) - 1st smoothing- with period r, applied to:
to the Stochastic Momentum;
to the half of q-period price range;
EMA(EMA(...,r),s) - 2nd smoothing - EMA of period s, applied to result of the 1st smoothing;
EMA(EMA(EMA(...,r),s),u) - 3rd smoothing - EMA of period u, applied to result of the 2nd smoothing.
Input parameters:
q - period, used for the calculation of Stochastic Momentum (by default q=5);
r - period of the 1st EMA, applied to stochastic (by default r=20);
s - period of the 2nd EMA, applied to result of the 1st smoothing (by default s=5);
u - period of the 3rd EMA, applied to result of the 2nd smoothing (by default u=3);
AppliedPrice - (by default AppliedPrice=PRICE_CLOSE).
Note:
q>0;
r>0, s>0, u>0. If r, s or u =1, smoothing is not used;
Min. rates=(q-1+r+s+u-3+1).
