Suggestion for new indicator: Stochastic Momentum Index
Author: lukeallen63
Creation Date: 10/13/2013 1:07 PM
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lukeallen63

#1

10/13/2013 1:07 PM

I have used the Stochastic Momentum index on other platforms like ThinkorSwim. It is very useful and thought it would be a nice addition to the studies in Wealth Lab. Here is a link that describes the formula.

http://www.positiveterritory.com/do/tw/smi11.htm

Thanks
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Eugene

#2

10/14/2013 2:59 AM

Smooth the StochD with a fast EMA, and there you have that SMI (roughly). Nonetheless, thanks for your suggestion. SMI will appear in upcoming update of Community Indicators (early next month).
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lukeallen63

#3

10/14/2013 5:43 PM

Thanks Eugene, I will look forward to the update
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