# Stochastische Momentum Index Blau SMI Indicator voor MT5

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## Introduction to the Stochastic Momentum Index Blau SMI Indicator

The Stochastic Momentum Index (SMI) was developed by William Blau, which is a smooth oscillator based on the Stochastic Momentum Indicator. This indicator is a version of the SMI Indicator based on the original formula made by William Blau.

## What is the Stochastic Momentum Index Blau SMI Indicator?

The Stochastic Momentum Index Blau SMI Indicator is a momentum indicator which indicates momentum direction using an oscillator. This oscillator is derived from the Stochastic Momentum Indicator. It simply uses several layers of smoothening on the Stochastic Oscillator giving it a distinctly smooth oscillating line.

This indicator plots a line which theoretically oscillates within the range of -100 Aan 100. Echter, it plots an even tighter range which is normally within the range of -40 En 40.

The range of this indicator also has markers at levels 0, -40, En 40.

The marker at zero represents the middle line of the range. The Stochastic Momentum Index Blau line typically stays below zero in a downtrend, and above zero in an uptrend.

The markers at -40 En 40 represent the oversold and overbought levels. Oscillator lines dropping below -40 duidt op een oververkochte markt, terwijl lijnen hierboven doorbreken 40 duidt op een oververkochte markt.

## How the Stochastic Momentum Index Blau SMI Indicator Works?

The Stochastic Momentum Index Blau SMI Indicator uses an underlying Stochastic Oscillator as the basis for its calculations. It then applies three layers of smoothing on the Stochastic Momentum Indicator using an Exponential Moving Average (EMA) methode. It is somehow like a Triple Exponential Moving Average (TOPIC) on the Stochastic Momentum Indicator. Echter, at each layer of the smoothing process, the indicator would use different variables which differs from the standard TEMA.

## How to use the Stochastic Momentum Index Blau SMI Indicator for MT5

To properly apply this indicator on a price chart, traders should first copy the “williamblau.mqh” file on the “Include” file within the MT5 Data Folder.

This indicator has a few variables which can be modified within its indicator settings.

“q – period of Stochastic Momentum” modifies the number of periods used on the underlying Stochastic Oscillator.

“r – 1st EMA” modifies the number of periods used on the EMA of the Stochastic Momentum.

“s – 2nd EMA” modifies the number of periods used on the second round of smoothing.

“u – 3rd EMA” modifies the number of periods used on the third round of smoothing.

Although this indicator can technically be used for identifying mean reversals based on reversals from the -40 En 40 niveau, its smoothing can cause some lag.

This indicator can also be used effectively as a trend direction filter based on where the oscillator line generally is in relation to its midline, welke nul.

Identify uptrend markets based on an oscillator line which is generally above zero and trade bullish trend direction trades exclusively.

Identify downtrend markets based on an oscillator line which is generally below zero and trade bearish trend direction trades exclusively.

## Conclusie

This indicator may have too much lag to be used as a trade signal. Echter, it is very effective as a trend direction filter. It is best to use other trade signals in confluence with the trend direction indicated by this oscillator for an accurate yet timely trade entry.

Stochastic Momentum Index Blau SMI Indicator for MT5 is a Metatrader 5 (MT5 MT5) indicator en de essentie van deze technische indicator is het transformeren van de geaccumuleerde geschiedenis gegevens.

Stochastic Momentum Index Blau SMI Indicator for MT5 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Op basis van deze informatie, handelaren kunnen verdere prijsbeweging aannemen en hun strategie dienovereenkomstig aanpassen. Klik hier voor MT5 Strategies

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#### How to install Stochastic Momentum Index Blau SMI Indicator for MT5.mq5 to your MetaTrader 5 Grafiek?

• Copy Stochastic Momentum Index Blau SMI Indicator for MT5.mq5 to your Metatrader 5 Directory / Deskundigen / Indicatoren /
• Start of start uw Metatrader opnieuw 5 Client
• Selecteer Grafiek en tijdsschema waar u uw mt5-indicator wilt testen
• Zoek “Aangepaste indicatoren” in uw Navigator meestal links in uw Metatrader 5 Client
• Right click on Stochastic Momentum Index Blau SMI Indicator for MT5.mq5
• Aan een grafiek koppelen
• Instellingen wijzigen of op ok drukken
• Indicator Stochastic Momentum Index Blau SMI Indicator for MT5.mq4 is available on your Chart

#### How to remove Stochastic Momentum Index Blau SMI Indicator for MT5.mq5 from your Metatrader 5 Grafiek?

• Selecteer de grafiek waar de indicator wordt uitgevoerd in uw metatrader 5 Client
• Klik met de rechtermuisknop in de grafiek
• “Lijst met indicatoren”
• De indicator selecteren en verwijderen