BullBearXinsights Simple SMI [Phil Vo]
Simple SMI [Phil Vo]
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.
• Below zero: price is positioned toward the lower half.
• Above +40 or below −40: potential overbought or oversold conditions.
An SMI curling upward from below −40 can help identify recovering momentum. A downward turn above +40 can indicate weakening momentum. Crosses with the signal line provide another way to track momentum changes.
Default settings:
• Range length: 10 bars.
• Double EMA smoothing: 3 bars.
• Signal EMA length: 3 bars.
• Overbought/oversold levels: +40 and −40.
The indicator follows the chart timeframe. Use a 5-minute chart to study 5-minute momentum, or adjust the timeframe and settings to suit the analysis.
This script uses the standard SMI calculation without additional entry filters. It does not generate buy or sell signals. Read momentum alongside price structure, support, resistance, and volume.
Values update during the open candle and can change before it closes. Overbought and oversold readings alone do not confirm a reversal.
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.
• Below zero: price is positioned toward the lower half.
• Above +40 or below −40: potential overbought or oversold conditions.
An SMI curling upward from below −40 can help identify recovering momentum. A downward turn above +40 can indicate weakening momentum. Crosses with the signal line provide another way to track momentum changes.
Default settings:
• Range length: 10 bars.
• Double EMA smoothing: 3 bars.
• Signal EMA length: 3 bars.
• Overbought/oversold levels: +40 and −40.
The indicator follows the chart timeframe. Use a 5-minute chart to study 5-minute momentum, or adjust the timeframe and settings to suit the analysis.
This script uses the standard SMI calculation without additional entry filters. It does not generate buy or sell signals. Read momentum alongside price structure, support, resistance, and volume.
Values update during the open candle and can change before it closes. Overbought and oversold readings alone do not confirm a reversal.
Built for traders who want clarity, not noise.
bullbearxinsights.app
bullbearxinsights.app
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
Built for traders who want clarity, not noise.
bullbearxinsights.app
bullbearxinsights.app
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.