Code Amibroker Indicators

Unbounded Stochastic Momentum Index for Amibroker

by admin December 29, 2018 1 min read 0 comments

Key Takeaways

  • Market conditions and their impact on trading decisions
  • Key levels and price action analysis
  • Risk management strategies for this setup

the Unbounded SMI values are allowed to go outside the -100 to 100 boundaries imposed by the standard SMI indicator.

Periods=Param("Periods",15,2,100);
Smooth1=Param("Smooth1",3,1,100);
Smooth2=Param("Smooth2",3,1,100);
HH=HHV(Ref(H,-1),Periods);
LL=LLV(Ref(L,-1),Periods);
StoMom=100*EMA(EMA(C-0.5*(HH+LL),Smooth1),Smooth2)/
(0.5*EMA(EMA(HH-LL,Smooth1),Smooth2));
Plot(StoMom,_DEFAULT_NAME(),ParamColor("Color",ColorCycle));
PlotGrid(80,colorRed);
PlotGrid(0,colorLightGrey);
PlotGrid(-80,colorLightGrey);

Trading Data Snapshot

Always verify current market conditions before executing any trade. Past performance does not guarantee future results.

A
admin
Trading analyst and market commentator with expertise in technical analysis, price action, and risk management. Dedicated to helping traders make informed decisions.

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