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Volume-Weighted SMI with Divergence Alerts
📊 Volume-Weighted SMI with Divergence Alerts
This indicator is a modified version of the Stochastic Momentum Index (SMI) that incorporates volume-weighting to give more significance to price movements during high-volume periods. It also includes optional divergence alerts for improved signal precision.
🔍 Key Features:
Volume-Weighted SMI: Enhances the traditional SMI by amplifying signals during high-volume conditions.
WMA Smoothing: Applies a weighted moving average for clearer trend structure.
Custom Thresholds: Adjustable upper and lower bounds (default ±80) to identify overbought/oversold zones.
Divergence Alerts:
Detects bullish divergence (price makes lower lows, SMI makes higher lows).
Detects bearish divergence (price makes higher highs, SMI makes lower highs).
Sends alerts without plotting markers to keep your chart clean.
⚙️ Inputs:
SMI Length: Lookback for high/low range.
K Smoothing: Smooths the volume-weighted SMI signal.
WMA Length: Period of the WMA applied to the smoothed SMI.
Upper/Lower Threshold: Custom levels for signal zones.
Pivot Lookback: Defines the swing structure used in divergence detection.
🔔 Alerts:
Set a TradingView alert on:
“Any alert() function call”
to receive real-time divergence notifications (bullish or bearish) directly from the indicator.
🧠 How to Use:
Look for crossovers of the WMA with the SMI line to confirm shifts in momentum.
Use threshold levels for overbought/oversold identification.
Watch for divergence alerts to anticipate potential reversals or exhaustion.
This indicator is a modified version of the Stochastic Momentum Index (SMI) that incorporates volume-weighting to give more significance to price movements during high-volume periods. It also includes optional divergence alerts for improved signal precision.
🔍 Key Features:
Volume-Weighted SMI: Enhances the traditional SMI by amplifying signals during high-volume conditions.
WMA Smoothing: Applies a weighted moving average for clearer trend structure.
Custom Thresholds: Adjustable upper and lower bounds (default ±80) to identify overbought/oversold zones.
Divergence Alerts:
Detects bullish divergence (price makes lower lows, SMI makes higher lows).
Detects bearish divergence (price makes higher highs, SMI makes lower highs).
Sends alerts without plotting markers to keep your chart clean.
⚙️ Inputs:
SMI Length: Lookback for high/low range.
K Smoothing: Smooths the volume-weighted SMI signal.
WMA Length: Period of the WMA applied to the smoothed SMI.
Upper/Lower Threshold: Custom levels for signal zones.
Pivot Lookback: Defines the swing structure used in divergence detection.
🔔 Alerts:
Set a TradingView alert on:
“Any alert() function call”
to receive real-time divergence notifications (bullish or bearish) directly from the indicator.
🧠 How to Use:
Look for crossovers of the WMA with the SMI line to confirm shifts in momentum.
Use threshold levels for overbought/oversold identification.
Watch for divergence alerts to anticipate potential reversals or exhaustion.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。