The Smoothed Repulse indicator is a technical analysis tool used to measure the momentum of buying and selling forces within a security over a specified period. It is a variation of the standard Repulse indicator, providing a smoother and more comprehensive view by considering multiple periods rather than just the current one. This indicator is particularly useful for identifying the strength of market movements and potential reversals.

Syntax:

SmoothedRepulse[period](price)

• period: The number of periods over which the Smoothed Repulse is calculated. The default is 5 periods.
• price: The price type applied in the calculation (e.g., Close, Open, High, Low). The default is Close.

Example:

To calculate the Smoothed Repulse for a 10-period range based on closing prices, you would use the following code:

SmoothedRepulse[10](close)

Additional Information:

The Smoothed Repulse indicator evaluates the difference in buying and selling pressure over the entire specified period, unlike the standard Repulse indicator which focuses only on the current bar. This smoothing effect helps in reducing noise and providing a clearer signal regarding market sentiment. When the value of the Smoothed Repulse is positive, it suggests that buying pressure is dominant; conversely, a negative value indicates stronger selling pressure. This can aid traders in making more informed decisions about potential bullish or bearish trends.

Understanding and interpreting this indicator can be crucial for traders looking to gauge the momentum and possible shifts in market dynamics over a given period.