SMI Ergodic Oscillator

[chakisii]

Hello, could you develop an expert advisor based on the SMI Ergodic Oscillator


What is SMI Ergodic Indicator?

SMI Ergodic is a technical indicator that is used to predict an upcoming reversal in the price of a currency. SMI means Stochastic Momentum Index. This indicator oscillates around a zero line and continues generating signals based on the crossover.

It is used for buy/sell signals and overbought/oversold conditions on the price chart in technical analysis. By using the true strength index, SMI Ergodic indicator increases the efficiency of buy/sell signals.

How SMI Ergodic works in trading?
The indicator consists of two lines

TSI line
Signal line
TSI line uses true strength index formula and signal line uses exponential moving average. TSI represents the strength of an asset or a currency and exponential moving average is used to identify the average price value based on historic values.

Working of Ergodic indicator is based on the conditions of crossover of the signal line and TSI line

SMI Ergodic Indicator
Buy Signal
SMI Ergodic indicator shows a buy signal when the TSI line crosses the signal line below the zero line. The currency or an index will remain bullish until another opposite crossover of the signal line and TSI line.

Sell Signal
SMI Ergodic indicator indicates a sell signal when the signal line crosses the TSI line above the zero line. It shows a bearish trend until another opposite crossover of TSI and signal line.

There should be an option to close trades on opposite signal.

[Apprentice]

Something like this?
https://fxcodebase.com/code/viewtopic.php?f=31&t=12168

[chakisii]

Yes indeed.