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Appeared in the January 93 issue of Stocks & Commodities magazine. SMI 100 * ( Mov( Mov(C - (.5 * ( HHV(H,13) + LLV(L,13))),25,E),2,E) / (.5*Mov( Mov( HHV(H,13) - LLV(L,13),25,E),2,E))) List, I picked up this indicator and have been working it for the last month. Maybe it came from support at Equis (don't know for sure). Anyway,the "SMI" was discussed in an article in January 1993's TASC. Can anyone tell me the name of the indicator (for ten points) and the concept behind it (bonus ten points). First one to identify the answers wins a stay at my mother-in-laws: "Rolling Hills Bed and Breakfast" and when you get here (somewhere in northern Idaho), you get to pet a moose (but be careful...they're the postal workers of the animal kingdom). Attached is the SMI (13,25,2) and December Silver. This is really bugging me! Steve Karnish CCT -----Original Message----- From: fletch <fletchmo@xxxxxxx> To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>; Steve Kernish <kernish@xxxxxxxxxxxx> Date: Friday, September 04, 1998 4:25 AM Subject: Re: SMI (13,25,2) SMI - comes from the book - Momentum, Direction, and Divergence byWilliam Blaue been using it for over a yr in the TS - here - steve contact me - privately ...will give you the full scoop - gotit ! regards fletch Re: SMI (13,25,2) · To: <metastock@xxxxxxxxxxxxx> · Subject: Re: SMI (13,25,2) · From: "Tony Harring" <greatsigns@xxxxxxxxxxxxxxxx> · Date: Fri, 4 Sep 1998 08:30:50 -0400 · Reply-To: metastock@xxxxxxxxxxxxx · Sender: owner-metastock@xxxxxxxxxxxxx NOTE: I also have used SMI but in conjunction with TS{Appeared in the January 93 issue of Stocks & Commodities magazine} 100 * ( Mov( Mov( ROC(C,1,$),40,E),20,E) / ( Mov( Abs( ROC(C,1,$)),40,E),20,E)) When SMI crosses TS at the end of a move, eg: wave 5 it is a good buy/sell indicator. Wonder if someone can show me how to test it, optimize it and tellme why when I open metastock it says says SMI does not contain an executable formula. TONY [8069] Steve Karnish wrote: List, I picked up this indicator and have been working it for the last month. Maybe it came from support at Equis (don't know for sure). Anyway, the "SMI" was discussed in an article in January 1993's TASC. Can anyone tell me the name of the indicator (for ten points) and the concept behind it (bonus ten points). First one to identify the answers wins a stay at my mother-in-laws: "Rolling Hills Bed and Breakfast" and when you get here (somewhere in northern Idaho), you get to pet a moose (but be careful...they're the postal workers of the animal kingdom). Attached is the SMI (13,25,2) and December Silver. This is really bugging me! Steve Karnish CCT Subject: Re: SMI (13,25,2) Date: Fri, 04 Sep 1998 10:30:17 -0700 From: Harvey Pearce <hhp@xxxxxxxx> Reply-To: metastock@xxxxxxxxxxxxx Organization: @Home Network To: metastock@xxxxxxxxxxxxx References: 1 Steve/ (This was supposed to go out last night, but the system was down. It may - or may not - be of interest to others.) Are you sure you want to know? It is not a simple article to summarise. "Stochastic Momentum" by William Blau. SMI = Stochastic Momentum Index, given symbolically as SMI(q,r,s). q is the number of lookback periods; r and s aare the number of days of exponential smoothing. Basically, the SMI plots the close relative to the mid-point between the highest high and the lowest low. Numerator and denominator both have double exponential smoothing. Blau claims very little lag for the indicator. SMI(13,25,2) 100*(mov(mov(C-(0.5*(hhv(H,13)+llv(L,13))),25,E),2,E) / (0.5*mov(mov(hhv(H,13)-llv(L,13),25,E),2,E))) Updating this for MS v.6.5: |
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SMI (13,25,2) q:=Input("Lookback Periods?",1,1000,13); r:=Input("First EMA Periods?",1,100,25); sm:=Input("Second EMA Periods?",1,100,2); 100 * (mov(mov(C-(0.5*(hhv(H,q)+llv(L,q))),r,E),sm,E) / (0.5*mov(mov(hhv(H,q)-llv(L,q),r,E),sm,E))) |
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SMI(13,25,2) "The basic configuration of the stochastic momentum index is ... for a q=13-day lookback with EMA smoothings of 25 and two days respectively. The indicator maps into a corresponding range of from -100 to =100 on its scale. Prices are considered to be at "high" levels when the indicator is above its threshold overbought line (here set at +40). Prices are said to be at "low" levels when the indicator is below its threshold oversold line (here set at -40). The signal line ... is the EMA of SMI(q,r,s). It is normally in the range of three to 12 bars. When the SMI is above its signal line, a price uptrend is indicated; a downtrend is defined when the SMI is below its signal line." SMI(20,20,1) "The stochastic momentum index now appears to trend as prices trend." ... "The slow stochastic may now be used as an entry (or exit) vehicle for trading with the stochastic momentum index defining the trend of prices." SMI(20,60,1) "Note the smoothness of the SMI due to increased smoothing [of] an EMA of 60 days with essentially very little lag introduction of the major turning points." SMI(2,300,1) "Comparison with the price chart ... reveals it to be an excellent stand-in for price". SMI(2,20,20) "The curve is observed to be timely, low lag, with access to major turning points in prices. The overbought and oversold thresholds here are set at plus and minus 20, respectively. Generally, a buy is indicated for the SMI crossing above its signal line; a sell is indicated for the SMI crossing from above to below its signal line". "The one-day stochastic is sensitive to the location of the close relative to the high and low of the day. This characteristic is useful as a sentiment, or trend identification, indicator." SMI(1,100,20) "The one-bar stochastic ... gives more of a sense of the overall direction of the market. Often, the one-bar stochastic may be used as a direct trading vehicle signaling major turning points on a smooth and timely basis." SMI(1,40,20) "A TSI [True Strength Index] (close,40,20) curve is included for comparison. The TSI curve tracks the close-to-close prices and is greatly affected by the gap opening. The one-bar stochastic is unaffected by the gap opening continuing to rise from one day to the next." There were several comparisons of the SMI with the True Strength Index (don't ask) which Blau had introduced a couple of years earlier. Now aren't you sorry you asked? I'll pass on the moose: we have politicians like that. Harvey Pearce, Victoria, B.C., Canada | |
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