Stochastic Momentum Index: Our Free Indicator for NinjaTrader 8
In order to determine if a market is overbought or oversold, the Stochastic Momentum Index (SMI), a modified version of Blau's Double Smooth, compares the median of the high- and low values to the current close price.
The Stochastic Momentum Index indicator is seen by traders of all levels as an upgraded version of the stochastic oscillator since it reduces false swings and hence improves stochastic readings.
- Indicates Momentum
- Support & resistance levels
- Better stochastic reading
- Sell/buy signal lines
- Fitting experienced & new traders
- Fully compatible with NinjaTrader 8
Its plot, which ranges from -100 to +100, makes it an excellent indication of divergence. It is simple to read:
Buying is suggested if the plot moves past the signal line and below a level, such as -50. However, selling is suggested if it crosses below the signal line and advances past, for instance, +50. You can adjust the signal lines to your liking.
As a result, many traders use it as their first indication of choice to find the best sell and buy chances on NinjaTrader 8.
Alternatively you can have a look at our other momentum indicators, which provide a different view at the chart. If you are ready to take your trading to the next level, have a look at the Ichimoku Cloud Superior Indicator, which is our most popular momentum indicator.
Free NinjaTrader Indicators Download
The NinjaTrader 8 free indicator add-ons, which are very simple to download and activate, will assist you with your daily technical analysis and improve your trading technique. A beginner trader may explore his first custom indicator and experience the trading environment with our free NinjaTrader 8 indicators.
Devside Trading is happy to be a member of the NinjaTrader community, because we've been producing excellent indicators for the software for a very long time. We are always working on building even better indicators using our knowledge and various ideas to make trading more flexible, easy, and profitable for you.
Just a few clicks: To use the free Stochastic Momentum Index add it to your shopping basket and follow the instructions. After your free acquisition a confirmation email will be sent to you, allowing you to access and safely download the indicator.
If you are having trouble activating your product such as the NinjaTrader 8 free indicator check out our guide to activating your product!
Want More? Try Our Other Indicators for High Performance and Ultimate Convenience
This website offers great trading space for brokers and day traders to engage in futures, FX, CFDs, and stock. These indications are helpful for anyone trading using NinjaTrader, regardless of whether they are a bull or a bear.
Besides our NinjaTrader 8 free indicators we offer a wide variety of trading indicators to cover every need of our traders. If you are not yet sure which type of indicator you want, just browse all of our NinjaTrader indicators and simply check them out for their advantages and features.
Most of the time traders combine different indicators for their special needs, for example you can add a reversal indicator to your trading strategy. One of our favorite indicators is the Two Legged Pullback Indicator, which is one of the most reliable price action setup. It is often used as second entry identifier for their daily trades.
Any questions? Please feel free to get in touch with us by using our contact form or by chatting with us online!