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Do you know that MQL5 has event handling?
Automated-Trading 2011.06.28 11:42 

Stochastic Momentum Index Blau_SMI:

Stochastic Momentum Index (SMI) by William Blau is based on Stochastic Momentum Indicator (see Momentum, Direction, and Divergence: Applying the Latest Momentum Indicators for Technical Analysis).

Stochatic Momentum Index is normalized (to half of q-period price range) and mapped into the [–100,+100] interval. The values of SMI is interpreted as overbought (positive) and oversold (negative) states of the market.

Stochastic Momentum Index Blau_SMI

Author: Andrey N. Bolkonsky

supercoder2006 2012.08.02 05:26  


I am trying to get SMI to plot two lines. How could I achive this?

Picture of what I want to accomplish is attached.  Please take a look. Thank you.

Sergey Golubev
Sergey Golubev 2014.05.28 10:30  

Forum on trading, automated trading systems and testing trading strategies

Something Interesting to Read January 2014

newdigital, 2014.01.26 21:46

Momentum, Direction, Divergence : William Blau

In this latest volume, technical expert Bill Blau shows you how momentum, direction, and divergence form the basis of most technical indicators and how they can work for you to provide a considerable competitive advantage. Clearly, concisely, and with a minimum of complex mathematics, Blau shows you how to understand and apply them. Integrating the latest financial insights with more than 75 easy-to-follow graphics, Blau describes the uses and limitations of many of today's most notable technical indicators. He then demonstrates a variety of ways in which the principles of momentum, direction, and divergence can be used to create a versatile new set of technical indicators or to improve the effectiveness of the most widely used traditional indicators.

Focusing on the groundbreaking double smoothing concept, which he introduces for the first time in this book, William Blau:

  • Develops reliable new momentum indicators based on double smoothing techniques
  • Shows how these indicators improve the effectiveness of most popular oscillators, including the RSI, MACD, and stochastic indicators, by solving a host of timing problems
  • Combines the standard Welles Wilder techniques with his original True Strength Index to improve the effectiveness of most directional movement indicators
  • Introduces new ways of identifying divergence that make implementation simpler than ever
  • And much more


William Blau's Indicators and Trading Systems in MQL5. Part 1: Indicators

The first part of the article "Indicators and Trade Systems in MQL5 by William Blau. Part 1: Indicators " is a description of indicators and oscillators, described by William Blau in the book "Momentum, Direction, and Divergence".

The article describes the following groups of indicators:

  1. Indicators, based on the Momentum:
  2. Indicators, based on Stochastic:
  3. Indicators, based on the Stochastic Momentum:
  4. Indicators, based on a Mean Deviation from the market trends:
  5. Indicators based on the Moving Average Convergence/Divergence:
  6. Indicators, based on the Candlestick Momentum:
  7. Indicators, based on a Composite High-Low Momentum:

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