Indicators: T3 Stochastic Momentum Index
Hi, thanks for sharing! But when I tested it, it won't show up if the cycle is too long, I don't know what's the reason for that, can you modify it again, thanks!
Hello.
Excuse me, what does T3 mean? Didn't get it.
Hello! Could you please add a sound alert in this indicator?
Hello! Could you please add a sound alert in this indicator?
Just found this indicator. Thanks for sharing.
T3 Stochastic Momentum Index:
The Stochastic Momentum Index (SMI) was developed by William Blau and was introduced in the January 1993 issue of Technical Analysis of Stocks & Commodities magazine.
It incorporates an interesting twist on the popular Stochastic Oscillator. While the Stochastic Oscillator provides you with a value showing the distance the current close is relative to the recent x-period high/low range, the SMI shows you where the close is relative to the midpoint of the recent x-period high/low range.
This version is doing the calculation in the same way as the original Stochastic Momentum Index, except in one very important part: instead of using EMA (Exponential Moving Average) for calculation, it is using T3. That produces a smoother result without adding any lag.
Author: Mladen Rakic