OPEN-SOURCE SCRIPT
Stochastic Momentum+Histogram
I modified SMI from UCSGear by adding histogram into his code. I personally use it as a slow SMI, 5,10 to find divergences and gauge the trend's stregth. This indicator is pretty useful for finding entry and exit when the price hit support or resistance in low timeframe.
I find histogram divergence to be useful as you can really see into more detail when the trend strength is waning.
I hope you like it :)
I find histogram divergence to be useful as you can really see into more detail when the trend strength is waning.
I hope you like it :)
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