Indicators: Stochastic Momentum Blau_SM

[Automated-Trading]

Stochastic Momentum Blau_SM:

Stochastic Momenum (Stochastic Momentum, SM) by William Blau (see Momentum, Direction, and Divergence: Applying the Latest Momentum Indicators for Technical Analysis).

The q-period Stochastic Momentum is defined as a distance of the current close from the midpoint of q bars.

• The value of Stochastic Momentum indicates the distance between the midpoint of q-period price range.
• The sign of Stochastic Momentum indicates the price position relative to the midpoint of price range: the positive values if the price is higher than midpoint, the negative if the price is lower than midpoint of price range.

Author: Andrey N. Bolkonsky

[Sergey Golubev]

Stochastic Momentum Index Technical Indicator

[Tobias Johannes Zimmer]

Not bad. You could certainly use it to make stochastic momentum candles...

[Andrey F. Zelinsky]

Tobias Johannes Zimmer stochastic momentum candles...

Explain what you mean?

[Tobias Johannes Zimmer]

Andrey F. Zelinsky #:

Explain what you mean?

Similar to Oscillator Candles by Ernst van der Merwe. Not just the difference from Close to the centre line but all the differences from O,H,L and C. Maybe I'll do that tonight.

[Tobias Johannes Zimmer]

https://www.mql5.com/en/code/48208