Phase change index by M.H. Pee (originally published here : Phase Change Index) with an addition of JMA smoothing
The original indicator is very useful but maybe lacks some smoothing in some cases in order to avoid some cases. In order to address that, this version adds smoothing using the well known JMA (Jurik Moving Average) but it adds it in 3 possible ways :
smoothing the price prior to using it in calculation
smoothing the PCI when it is calculated
smoothing the price prior to using it in calculation and the smoothing the PCI value too
Comparison of the 3 modes (in the order described above) – it is obvious that the values can change significantly depending on the smoothing mode, hence some experimenting prior to using the indicator in trading decision is advised
Force index - JMA - indicator MetaTrader 5 Basics : The Force Index (sometimes referred to as “the index”) is another technical analysis concept introduced by Alexander Elder…
