Rova MTF SMI MinuteStochastic Momentum Index is used to find oversold and overbought zones. It also helps to figure out whether to enter short trade or long trade.
Red Shade in the Top indicates that the stock is oversold and the Blue shade in the bottom indicates overbought.
The lighter color indicates that the trend is continuing while the darker color indicates the trend is reversing.
This indicator shows 3 Stochastic Momentum Index of 3 different Time Frames (with 1 minute as their base resolution) in one windows.
Stoch-mtm
Stochastic Momentum Index (SMI)Stochastic Momentum Index (SMI) or Stoch MTM is used to find oversold and overbought zones. It also helps to figureout whether to enter short trade or long trade.
Red Shade in the Top indicates that the stock is oversold and the Green shade in the bottom indicates overbought.
Strategy:
Enter Long once the Overbought Zone ended and there's a crossover below -35.
Exit Long once the oversold zone is ended and there's a crossover.
Enter Short once the oversold zone is ended and there's a crossover above 35.
Exit Short once the Overbought Zone ended and there's a crossover.
Backup: Always use with another indicator because there will be multiple up and down movement in one Trend.
