More from ProRealCode
ProRealCode - Trading & Coding with ProRealTime™
The ProRealTime™ community on the web! Officially sharing ProRealTime knowledge to Worldwide users since 2015!
Normalized SMI
June 17, 2019, 10:47 AM
Indicators
0 Comments
Taken from the book Bollinger on Bollinger Bands.
In a conversation in one of the forums, I discovered that the best way to describe this indicator is not to name it normalized, perhaps the best term is “Related to Volatility”.
The SMI is normalized according to its standard deviation around a mean calculated with an exponential moving average of 24 periods by default.
//**********************************************************************************
//*
//* Se normaliza el SMI dado un numero: Por defecto es igual que el RSI
//* Autor: Rafa Barreto
//*
//**********************************************************************************
ValorEMA=24
MiSMI = SMI[10,3,5](Close)
Bollinger2UpSMI = ExponentialAverage[ValorEMA](MiSMI) + (2 * STD[ValorEMA](MiSMI))
Bollinger2DnSMI = ExponentialAverage[ValorEMA](MiSMI) - (2 * STD[ValorEMA](MiSMI))
SMINormalizado = (MiSMI - Bollinger2DnSMI) / (Bollinger2UpSMI - Bollinger2DnSMI)
Return SMINormalizado
Download
Filename:
NormalizedSMI-1.itf
Downloads:
99
Senior
Developer by day, aspiring writer by night. Still compiling my bio... Error 404: presentation not found.
Author’s Profile
Similar code
Smooth Price Oscillator (SPO)Indicators
Normalized smoothed MACDIndicators
Normalized barsIndicators
MACD-V Volatility normalised MomentumIndicators
Loading...