Stochastic Momentum Index (SMI)

[myalgomate]

Community discussion about Stochastic Momentum Index (SMI)

Can you help with the indicator: stochastic momentum index
How can I get that..?

If it's not available in our library I can help you share the calculations.

As I read at someplace Stochastic Oscillator vs. Stochastic Momentum Index: are different indicators.

https://www.investopedia.com/ask/answers/021315/what-difference-between-stochastic-oscillator-stochastic-momentum-index.asp

Reference Parameters:

[DaveSkender]

I see the original author is William Blau. Do you have any references to his original description?

[myalgomate]

Hi,
When trying to download the latest library and use GetSMI not able to get the function in the library.
Can you please check if the latest code is available in the library of NuGet package manager

[DaveSkender]

Yah, sorry, the doc site sometimes gets ahead of the actual published library. SMI will be available in the next package, after v1.19.2

[myalgomate]

Okay no problem any tentative Date when we will get next version with latest updates.?

[DaveSkender]

I’ll probably do it after #652. Might take a couple weeks or more to finish.

[DaveSkender]

This was implemented in version 1.20.0

[fernaramburu]

Hi, I found this indicator to be great inside a Trading Platform with all default values but I cannot find the default values on SMI implementation. Can anyone let me know so I can run some test and compare it with what I'm seeing at the trading platform.
Thanks a lot for this question and for the amazing tool you've built!

[fernaramburu]

I guess nobody can ask for a more clear and faster answer. Amazing response time, couldn't ask for more :) Thanks a lot!
I will dig into the code because I still can't understand the differences between this SMI and the SMI from the trading platform.
Not as a critic at all, as I love this library, but this SMI is looking more like a SMO and not so much as a standard SMI. May I be right?
Thanks again and again! :)

[DaveSkender]

Yes, definitely check the code in both comparators. We source our formulas directly from original authors sources, where possible. In this case, I see I’d sourced from an article in Stocks & Commodities V. 11:1 (11-18): Stochastic Momentum by William Blau.

[fernaramburu]

I just understand it, I was the one looking everything bad.
Again , great work @DaveSkender . Thanks a lot
I will test deeply test SMI.
BTW, I'm using this amazing library for 1-minute bar to build a live demo and updating the quotes once a minute. Is there any I can ask for the last result calculation only without re-calculating everything every time I call SMI to be calculated? I mean, I feel that it's taking more time because I recalculate N-1 previous SMI values I already did one minute ago...

[DaveSkender]

We’re very slowly working on the incremental use case. Follow #1018 for updates. The good news, for now, is that recalculating a typical full quote series is still a fast performance, even if it feels a bit icky. It’s 65us (0.065ms) for SMI for a 500 period quote set.

[DaveSkender]

I just re-read William Blau’s article. His “basic configuration” is:

SMI (13, 25, 2) means a q = 13-bar stochastic lookback with r = 25-bar first smoothing, s = two-bar second smoothing [and signal] in the range of three to 12 bars.

On our demo site, SMI(13,25,2,9) looks like: