Multi-TimeFrame Stochastic Momentum Index for ThinkorSwim

theLEMband

Member
VIP
Here is a multiple timeframe modification of TOS' built in Stochastic Momentum Index.

Puf5i60.png


Code:
#multiple timeframe stochastic momentum

declare lower;

input tf = {"MIN", "TWO_MIN", default "FIVE_MIN", "FIFTEEN_MIN", "HOUR", "TWO_HOURS", "FOUR_HOURS", "DAY", "WEEK", "MONTH"};

def timeframe;

switch (tf){
case "MIN":
    timeframe = AggregationPeriod.MIN;
case "TWO_MIN":
    timeframe = AggregationPeriod.TWO_MIN;
case "FIVE_MIN":
    timeframe = AggregationPeriod.FIVE_MIN;
case "FIFTEEN_MIN":
    timeframe = AggregationPeriod.FIFTEEN_MIN;
case "HOUR":
    timeframe = AggregationPeriod.HOUR;
case "TWO_HOURS":
    timeframe = AggregationPeriod.TWO_HOURS;
case "FOUR_HOURS":
    timeframe = AggregationPeriod.FOUR_HOURS;
case "DAY":
    timeframe = AggregationPeriod.DAY;
case "WEEK":
    timeframe = AggregationPeriod.WEEK;
case "MONTH":
    timeframe = AggregationPeriod.MONTH;
}

input over_bought = 40.0;
input over_sold = -40.0;
input percentDLength = 4;
input percentKLength = 6;

def min_low = Lowest(low(period = timeframe), percentKLength);
def max_high = Highest(high(period = timeframe), percentKLength);
def rel_diff = close(period = timeframe) - (max_high + min_low) / 2;
def diff = max_high - min_low;

def avgrel = ExpAverage(ExpAverage(rel_diff, percentDLength), percentDLength);
def avgdiff = ExpAverage(ExpAverage(diff, percentDLength), percentDLength);

plot SMI = if avgdiff != 0 then avgrel / (avgdiff / 2) * 100 else 0;
SMI.SetDefaultColor(GetColor(4));

plot AvgSMI = ExpAverage(SMI, percentDLength);
AvgSMI.SetDefaultColor(GetColor(6));

plot overbought = over_bought;
overbought.SetDefaultColor(GetColor(5));
overbought.SetStyle(Curve.SHORT_DASH);

plot oversold = over_sold;
oversold.SetDefaultColor(GetColor(5));
oversold.SetStyle(Curve.SHORT_DASH);
 
Last edited:

theLEMband

Member
VIP
dAeLKBf.png


Add the standard TOS SMI, then add this (multiple times if you like) and set them for higher time frame(s). Note that the percent signs on the right are not part of the studies.

Possible use, when higher time frame crosses yellow above green and is above 0, possible buy could occur at next cross of shorter time frame blue above red. Possible sell when higher time frame crosses the other way. Or could hold longer and wait for shorter time frame to cross below -40. For example, right now, 8/15/20, would be looking for next 1 hour blue above red cross (and with yellow still above 0) for possible long entry.
 

Lysergic

New member
Hello, how does one add crossover arrows to display on the indicator whenever SMI crosses above the AvgSMI and vice versa. Thank you.
 
Last edited:

MerryDay

Administrative
Staff member
Staff
VIP
Lifetime
@Lysergic This is a multi-time frame indicator. Arrows wouldn't be appropriate due to the repainting-effect.
Screenshot (113).png

In the example of a 4hr on a 15min chart, the arrow would only be right once in 16 candles
A 5min on a 2min chart would be right once in 10 bars, etc...
 

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