Double Smoothed Momenta For ThinkOrSwim

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Hello, does anyone in the useThinkscript community have any experience, good or bad, which they care to share regarding William Blau's Double Smoothed Momenta (not a typo) strategy, and/or access to a TradingView translation of the approach as described here? William Blau does some interesting stuff and I wish I had studied his stuff sooner. Thank you!

https://www.tradingview.com/script/WDGZQHGf-Double-Smoothed-Momenta/


here is my conversion of the pine study

Code:
# convert_momenta_smoothes_00

#https://usethinkscript.com/threads/convert-tradingview-double-smoothed-momenta.14299/
#Tradingview Convert Tradingview Double Smoothed Momenta
#https://www.tradingview.com/script/WDGZQHGf-Double-Smoothed-Momenta/

declare lower;

#//@version=4
#// Copyright (c) 2019-present, Franklin Moormann (cheatcountry)
#// Double Smoothed Momenta [CC] script may be freely distributed under the MIT license.
#study("Double Smoothed Momenta [CC]", overlay=false)

#inp = input(title="Source", type=input.source, defval=close)
#res = input(title="Resolution", type=input.resolution, defval="")
#rep = input(title="Allow Repainting?", type=input.bool, defval=false)
#bar = input(title="Allow Bar Color Change?", type=input.bool, defval=true)
#src = security(syminfo.tickerid, res, inp[rep ? 0 : barstate.isrealtime ? 1 : 0])[rep ? 0 : barstate.isrealtime ? 0 : 1]
#aLength = input(title="ALength", type=input.integer, defval=2, minval=1)
#yLength = input(title="YLength", type=input.integer, defval=5, minval=1)
#zLength = input(title="ZLength", type=input.integer, defval=25, minval=1)
def inp = close;
def res = 0;  # 2nd agg
input rep = no;
input bar = yes;
def src = close;
input aLength = 2;
input yLength = 5;
input zLength = 25;


#hc = highest(src, aLength)
#lc = lowest(src, aLength)
#top = ema(ema(src - lc, yLength), zLength)
#bot = ema(ema(hc - lc, yLength), zLength)
#mom = bot != 0 ? 100 * top / bot : 0
#momEma = ema(mom, zLength)
def hc = highest(src, aLength);
def lc = lowest(src, aLength);
def top = ExpAverage(ExpAverage(close - lc, yLength), zLength);
def bot = ExpAverage(ExpAverage(hc - lc, yLength), zLength);
def mom = if bot != 0 then (100 * top / bot) else 0;
def momEma = ExpAverage(mom, zLength);


#sig = mom > momEma ? 1 : mom < momEma ? -1 : 0
#alertcondition(crossover(sig, 0), "Buy Signal", "Bullish Change Detected")
#alertcondition(crossunder(sig, 0), "Sell Signal", "Bearish Change Detected")
#momColor = sig > 0 ? color.green : sig < 0 ? color.red : color.black
#barcolor(bar ? momColor : na)
#plot(mom, color=momColor, linewidth=2)
#plot(momEma, color=color.black, linewidth=1)
def sig = if (mom > momEma) then 1 else if mom < momEma then -1 else 0;

plot z1 = mom;
z1.AssignValueColor( if !bar then color.gray
 else if sig > 0 then  color.green
 else if sig < 0 then color.red
 else color.black);

plot z2 = momEma;
z2.SetDefaultColor(Color.cyan);

def alertup = sig crosses above 0;
def alertdwn = sig crosses below 0;

alert(alertup, "Buy Signal", alert.BAR, sound.DING);
alert(alertdwn, "Sell Signal", alert.BAR, sound.bell);
#
 
@halcyonguy, thank you for your thoughtful translation. Shakeouts during trending trades are a vexing problem and this metric may help. The Double-Smoothed Momenta is similar to the Stochastic Momentum Index although the former may be a bit better for exits in some markets.

I notice both tend to sputter in upwards trending markets such as occurred during the recovery of 2020.

For anyone interested in a comparison of the Double-Smoothed Momenta above to a clear and useful form of the SMI, here is the ASAP SMI (smoothed) kindly shared by @dap711 recently:


###

declare lower;

input Length = 4;

#Add your indicator code here (if you want to use this as a template) :)
def min_low = Lowest(low, Length+1);
def max_high = Highest(high, Length+1);

def rel_diff = close - (max_high + min_low) / 2;
def range = max_high - min_low;
def avgrel = ExpAverage(ExpAverage(rel_diff, Length), Length );
def avgdiff = ExpAverage(ExpAverage(range, Length), Length);

plot SMI = if avgdiff != 0 then avgrel / (avgdiff / 2) * 100 else 0;
SMI.DefineColor("Up", GetColor(1));
SMI.DefineColor("Down", GetColor(0));
SMI.AssignValueColor(if SMI > SMI[1] then SMI.color("Up") else SMI.color("Down"));
SMI.SetLineWeight(2);

plot line_0 = 0;
###
 
Last edited:

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