BullBearXinsights Simple SMI [Phil Vo]Simple SMI
A straightforward Stochastic Momentum Index displayed in a separate panel, with an EMA signal line and adjustable overbought and oversold levels.
The indicator measures the closing price’s distance from the midpoint of the recent high–low range. Both that distance and the range are smoothed twice using EMAs to calculate the SMI.
Reading the indicator:
• Aqua line: SMI.
• Orange line: EMA signal line.
• Above zero: price is positioned toward the upper half of the smoothed range.
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