New free code from MQL5: indicators, EAs, and scripts for traders.
Real author:
Rosh
Stochastic momentum from the book "Momentum, Direction and Divergence" by William Blau implemented in the form of a color histogram with a signal line in the form of a colored cloud.
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The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Originally this indicator has been written in MQL4 and was first published in the Code Base on 01.01.2007.
Figure 1. The BlauSMI indicator
Complement community code with advanced automation from RobotFX.
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