This script simply displays bar colors corresponding to the SMI Ergodic Indicator. It does not display the oscillator or indicator itself. I prefer not to crowd my display with too many oscillators - others may find this script useful as well. Used in conjunction with other indicators, the SMII can give early reversal signals.
Thanks to the TV community.
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
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