Smoothed_Smart_Money_Pressure_Oscillator – indicator for MetaTrader 5

The oscillator displays the “money flow pressure” chart. It is based on indicator Smart_Money_Pressure_Oscillator. Unlike in the original one, in this indicator its line is smoothed, a signal line is added, and the indicator chart is inverted for a more convenient comparison with the price chart.

It has six input parameters:

  • SM Period– SMP calculation period
  • SM Smoothing period – SMP smoothing period
  • SM Smoothing method – SMP smoothing method
  • Signal line Smoothing period – signal line smoothing period
  • Signal line Smoothing method – signal line smoothing method
  • Graph inverse – switch for inverting the indicator chart (Yes/No)

Calculation:

SmSmartMoneyPressure = MA(SMP, SM Smoothing period, SM Smoothing method)

Signal = MA(SmSmartMoneyPressure, Signal line Smoothing period, Signal line Smoothing method)

where:

SMP = Close[SM Period] - SM

SM = SM[i+1] + Change

where:

If Volume > VolMA

Change = Close[i] - Close[i+1]

Otherwise

Change = 0

Volume = current volume

VolMA = SMA(Volume, SM Period)