This post focuses on customizable Stochastic Momentum Index (SMI) factory scans, which can be edited, modified, or rewritten and then scanned using ChartAlert’s native stock screener or technical analysis scanner, namely the Basic Scanner and Advanced Scanner.
Display Stochastic Momentum Index (SMI) Values
Tags: stochastic momentum index, stochastic momentum index scanner, stochastic momentum index screener
List symbols
Add Column Stochastic Momentum Index(5,3,3) as SMI%K
Add Column EMA(3,SMI(5,3,3)) as SMI%D
Apply to NSEThis scan generates the Stochastic Momentum Index (SMI) for all symbols and displays the calculated values in an easily accessible format. The parameters used in the calculation are as follows: 5 for %K Time Period, 3 for %K Smoothing Period, and 3 for %K Double Smoothing. Additionally, the scan provides the %D value, which represents the Exponential Moving Average (EMA) of the SMI value.
OPTION 1
A scan to retrieve the SMI values for the most recent 3 bars:
List symbols
Add Column SMI(5,3,3) as SMI%K
Add Column SMI(5,3,3) a bar ago as SMI%K_1
Add Column SMI(5,3,3) 2 bars ago as SMI%K_2
Apply to NSEStochastic Momentum Index (SMI) in Overbought Zone
Tags: stochastic momentum index overbought declining scanner, stochastic momentum index overbought decreasing scanner, stochastic momentum index overbought scanner
List symbols where SMI(5,3,3) has been above 50 for the last 3 bars
Add Column SMI(5,3,3) as SMI%K
Add Column SMI(5,3,3) 1 bar ago as SMI%K_1
Add Column SMI(5,3,3) 2 bars ago as SMI%K_2
Apply to NSEThis scan is designed to identify NSE symbols that have maintained a SMI (Stochastic Momentum Index) value above 50 for the past 3 periods. The output scan report also includes the SMI values for these three periods.
In this context, the values 5, 3, and 3 represent the respective time period, smoothing period, and double smoothing period for the %K component of the SMI.
OPTION 1
If you wish to modify the original scan to search for symbols where the SMI is solely in the Overbought Zone, you can consider the following option:
List symbols where SMI(5,3,3) > 50
Add Column SMI(5,3,3) as SMI%K
Add Column SMI(5,3,3) 1 bar ago as SMI%K_1
Add Column SMI(5,3,3) 2 bars ago as SMI%K_2
Apply to NSEStochastic Momentum Index (SMI) in Oversold Zone
Tags: stochastic momentum index oversold improving scanner, stochastic momentum index oversold increasing scanner, stochastic momentum index oversold scanner
List symbols where SMI(5,3,3) has been below -50 for the last 3 bars
Add Column SMI(5,3,3) as SMI%K
Add Column SMI(5,3,3) 1 bar ago as SMI%K_1
Add Column SMI(5,3,3) 2 bars ago as SMI%K_2
Apply to NSEThis scan is designed to identify NSE symbols with a sustained SMI (Stochastic Momentum Index) value below -50 over the past 3 bars. The output scan report includes the SMI values for the last 3 bars.
Please note that the values 5, 3, and 3 represent the respective time period, smoothing period, and double smoothing applied to the %K indicator.
OPTION 1
If you prefer to modify the original scan to search for symbols residing solely within the Oversold Zone, you may consider the following option:
List symbols where SMI(5,3,3) < -50
Add Column SMI(5,3,3) as SMI%K
Add Column SMI(5,3,3) 1 bar ago as SMI%K_1
Add Column SMI(5,3,3) 2 bars ago as SMI%K_2
Apply to NSEOverbought with a Declining Stochastic Momentum Index (SMI)
Tags: stochastic momentum index overbought declining scanner, stochastic momentum index overbought decreasing scanner, stochastic momentum index overbought scanner
List symbols where SMI(5,3,3) has crossed below 50 after remaining above for 3 bars
Add Column SMI(5,3,3) as SMI%K
Add Column EMA(3,SMI(5,3,3)) as SMI%D
Apply to NSEThis scan is designed to identify symbols in which the SMI (Stochastic Momentum Index) has recently dropped below the 50 level, following a period of being above it for 3 consecutive bars. The output scan report includes the SMI values for reference.
In this scan, the values 5, 3, and 3 represent the parameters for the %K Time Period, %K Smoothing Period, and %K Double Smoothing, respectively. Additionally, the scan provides the %D value, which represents the Exponential Moving Average (EMA) of the SMI value.
Oversold with an Improving Stochastic Momentum Index (SMI)
Tags: stochastic momentum index oversold improving scanner, stochastic momentum index oversold increasing scanner, stochastic momentum index oversold scanner
List symbols where SMI(5,3,3) has crossed above -50 after remaining below for 3 bars
Add Column SMI(5,3,3) as SMI%K
Add Column EMA(3,SMI(5,3,3)) as SMI%D
Apply to NSEThis scan is designed to identify instances where the Stochastic Momentum Index (SMI) has recently crossed above the -50 level, following a period of having been below that level for 3 consecutive bars. The SMI values are provided in the scan report.
The parameters used in this scan are as follows: 5, 3, and 3 represent the %K Time Period, %K Smoothing Period, and %K Double Smoothing, respectively. Additionally, the scan also presents the %D value, which is the Exponential Moving Average (EMA) of the SMI value.
Stochastic Momentum Index Moving Average Bullish Crossover
Tags: stochastic momentum index bullish crossover scanner, stochastic momentum index crossover scanner, stochastic momentum index crossover stocks, stochastic momentum index moving average bullish crossover
List symbols where SMI(5,3,3) has crossed above EMA(3,SMI(5,3,3)) after remaining below for 3 bars
Add Column SMI(5,3,3) as SMI%K
Add Column EMA(3,SMI(5,3,3)) as SMI%D
Apply to NSEThis scan is designed to identify instances where a particular symbol exhibits a specific pattern. The pattern involves the SMI line crossing above the 3-period Exponential Moving Average of the indicator after having been below it for 3 consecutive bars. Additionally, the SMI and Moving Average values are presented in the output scan report for reference.
The values 5, 3, and 3 represent the parameters used for the %K Time Period, %K Smoothing Period, and %K Double Smoothing, respectively.
OPTION 1
To further refine the scan results, an additional filter can be applied. This filter verifies whether the SMI(5,3,3) remains below -50, which indicates that the symbol is in the oversold zone.
List symbols where SMI(5,3,3) has crossed above EMA(3,SMI(5,3,3)) after remaining below for 3 bars
And SMI(5,3,3)<-50
Add Column SMI(5,3,3) as SMI%K
Add Column EMA(3,SMI(5,3,3)) as SMI%D
Apply to NSEStochastic Momentum Index Moving Average Bullish Crossover
Tags: stochastic momentum index bearish crossover scanner, stochastic momentum index crossover scanner, stochastic momentum index crossover stocks, stochastic momentum index moving average bearish crossover
List symbols where SMI(5,3,3) has crossed below EMA(3,SMI(5,3,3)) after remaining above for 3 bars
Add Column SMI(5,3,3) as SMI%K
Add Column EMA(3,SMI(5,3,3)) as SMI%D
Apply to NSEThis scan identifies instances where the SMI line has recently crossed below the 3-period Exponential Moving Average (EMA) of the indicator after having been above it for 3 consecutive bars. The resulting scan report also includes the values of the SMI and Moving Average.
The values 5, 3, and 3 represent the time period, smoothing period, and double smoothing of the %K indicator, respectively.
OPTION 1
Additionally, it is recommended to apply an additional filter to verify whether the SMI (5,3,3) remains above 50, indicating an overbought condition.
List symbols where SMI(5,3,3) has crossed below EMA(3,SMI(5,3,3)) after remaining above for 3 bars
And SMI(5,3,3)> 50
Add Column SMI(5,3,3) as SMI%K
Add Column EMA(3,SMI(5,3,3)) as SMI%D
Apply to NSEFor comprehensive insights into the Stochastic Momentum Index (SMI), including its computation methodology, interpreting the Stochastic Momentum Index, how to effectively use the Stochastic Momentum Index in trading, as well as an exploration of its advantages and limitations as an indicator, click here.