BlauSMI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The random momentum in the book "Momentum, Direction and Divergence" was implemented by William Blau in the form of a color histogram, and the signal lines are in the form of colored clouds.
The indicator uses the SmoothAlgorithms.mqh library class (must be copied to terminal_data_folder\MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.
The indicator was originally written in MQL4 and first published in the code base on January 1, 2007.
Figure 1. BlauSMI indicator
Attachment download
📎blausmi.mq5 (10.52 KB)
📎 smoothalgorithms.mqh (134.03 KB)
Source: MQL5 #2175
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