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elpokor

SMIIO

elpokor  
Centered Oscillators
420
3
centeredoscillator
SMI Ergodic Indicator plus SMI Ergodic Oscillator in a single script: kind of a "faster MACD" oscillator (based on TSI, or so called True Strength Index) with a 20-period lookback.

Trend is bullish when crossing above 0 and bearish when crossing down, although you can use the divergences too, keep in mind the lookback period to dismiss fake long-term divergences.

Fancier default colors than when merging the two built-in indicators too!
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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